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Pauline Hanson has withdrawn her party’s support for the Coalition’s company tax cuts.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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Landlord plant and equipment depreciation deductions limited
Landlord plant and equipment depreciation deductions limited to actual outlays - from Tax & Super Australia - 17/1/2018 The government has made good on a measure announced in its 2017 Federal Budget, and now limits plant and equipment depreciation deductions to...
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News on Company Tax Rate & Mid Year Fiscal Outlook
Enterprise Tax Plan reducing the corporate tax rate and the Federal 2017-18 Mid-Year economic and fiscal outlook
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Capital allowances: draft effective lives of assets used in the fruit and vegetable processing industry
Proposed new determinations effective asset lives in fruit and vegetable industry The ATO propose to add the following list of effective life determinations to the Commissioner's schedule to apply to assets purchased (or otherwise first used or installed ready-to-use)...
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Private use of exempt motor vehicles for FBT
Eligible Motor Vehicles by Employees The ATO have released a draft practical guideline on the private use of eligible motor vehicles by employees. Where private use of these vehicles by your employees is limited, some fringe benefits tax (FBT) car-related exemptions...
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Is paying off your HECS early worth it?
Is paying off your HECS early worth it?
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