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Penalty Rate Changes Explained

The Fair Work Commission (FWC) has moved to cut Sunday and public holiday penalty rates. The changes to penalty rates are not yet in force Flagged back in 2014, the review into penalty rates was…

What’s changing from 1 July 2016

Everyone New rules to prevent foreign residents avoiding tax when they sell certain Australian assets will affect everyone buying or selling property with a market value of $2 million or more.  The 10% withholding obligation…

Budget 2015: Families

Simpler Child Care Subsidy Date of effect: 1 July 2017 A new single Child Care Subsidy (CCS) will be introduced to replace the existing Child Care Benefit, Child Care Rebate and the Jobs, Education and…

Budget 2015: Pensioners

Asset test changes Date of effect: From 1 January 2017 As previously announced, the Government will increase the asset test thresholds and the withdrawal rate at which pensions are reduced once the threshold is exceeded.…

Budget 2015: Individuals

Tax changes to work related car expenses Date of effect: From 2015/2016 income year The way work related deductions for car expenses are calculated will change. The '12% of original value method' and the 'one‑third of…

Budget 2015: Farmers

Immediate deductions for fencing and water facilities Date of effect: For income years on or after 1 July 2016 From 1 July 2016, primary producers will be able to immediately deduct capital expenditure on fencing…

Christmas goodwill

Gift giving In November 2010, Clive Palmer reportedly gave 750 long term employees of the Yabulu Refinery luxury overseas holidays for two for Christmas.  Fifty of his most valued employees received a new Mercedes Benz.…

Setup with Xero accounting software

Looking for an easier, more accessible accounting solution? Xero a web based system for invoicing, accounts payable, bank reconciliation & bookkeeping, is rapidly growing in popularity among small to medium businesses throughout the world. Our team…

Buying depreciating assets

If you need to buy depreciating assets in your business – computers, machinery, or cars - we’re about to give you a whole lot of reasons to go shopping. We’re often asked about the best…

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