It goes without saying that good record keeping is critical for any business. However, for many small businesses its not their strong point, and is often left to the last minute, when tax deadlines come…
If you’re a Xero user you may have noticed that Xero are now enforcing two step authentication (2SA) for all users. Whilst some may see this as an unnecessary change, it’s a change to support…
In the same month that desperate farmers made headlines preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith’s nationalistic brand announced its…
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…
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…
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…
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.…
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…
Dying able to access their super earlier Date of effect: From 1 July 2015 After a few horrible cases where terminally ill people could not access their superannuation, the Government is changing the rules to…
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…
