New Tax Offset
New Tax Offset - Will I get the Offset as a Refund NO, you won't! This is called a low and middle income tax offset (LMITO), it is an offset against income tax payable. There is a lot of confusion about this. The most common misunderstanding seems to be a perception...
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ATO and myGov
ATO and myGov The ATO (Australian Taxation Office) and myGov have made technology changes to how we deal with them. This will affect most of us from 30th June 2019. The effect of which came into place for Taxpayers on 30th June...
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2019 Federal Budget: What it means for Small and Medium Business
2019 Federal Budget: What it means for Small and Medium Business From NAB Business Research and Insights 3rd Apr 2019. Small business won tax cuts, an increase to the instant asset write-off, increased infrastructure spending and investment in apprenticeships. By NAB...
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2019 Federal Budget: What it means for Individuals
Personal income tax cuts were the headline of the 2019 Federal Budget – along with a change to super contributions and a new work test age.
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Uber and Airbnb in government’s sights
Treasury to reveal plans for new income-reporting regime to ensure people working in the gig economy pay fair share of tax
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What the ATO is seeing in the small business market
What the ATO is seeing in the small business market from Deputy Commissioner Deborah Jenkins Speech to the Institute of Public Accountants 2018 national congress Sydney, 2 November 2018 The small business client base Let’s get a bit of context around small businesses...
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Deductions for vacant land to be wound back
The government announced in May this year, as part of the 2018–19 federal budget, that it will decrease the scope of allowable deductions for expenses stemming from holding vacant land that is intended to be used for residential or commercial purposes. The measure will apply from 1 July 2019.
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Future of Tax Revenue in Australia
The Parliamentary Budget Office has cast its eye over the future of tax revenue in Australia, and says federal coffers will become more reliant on income tax.
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Pauline Hanson has withdrawn her party’s support for the Coalition’s company tax cuts.
One Nation leader Pauline Hanson has dealt a blow to the Federal Government by withdrawing her party’s support for the Coalition’s company tax cuts.
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Federal Budget 2018
NEWS FROM THE BUDGET 2018
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Personal income tax cuts could boost economy
A large proportion of any cut in personal income tax — especially if the cuts were skewed towards lower and middle-income households with a higher propensity to spend — would likely provide a greater direct stimulus to the Australian economy than an equivalent cut in company tax.
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Ageing – Tax Reform News
Govt backbencher wants broad tax reform due to our ageing population 1:39pm Apr 9, 2018 from 9news.com.au A Turnbull government backbencher has joined calls for major tax reform with the country facing an ageing population. Liberal MP Tim Wilson believes there needs...
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