FBT: Important Changes for 2017
We know that no one likes to pay tax and certainly no more tax than they should. But very few people want to be on the wrong side of an Australian Taxation Office (ATO) audit…
State Tax Warning on Family Trusts
Recent changes to State laws may trigger a surprise tax bill for family trusts (discretionary trusts). The problem for family trusts stems from recent legislative changes in New South Wales (NSW), Victoria (VIC) and Queensland…
Claiming Self Education Expenses
Normally, if you undertake study that is connected to your work you can claim the costs of that study as a tax deduction - assuming your employer has not already picked up your expenses. …
Paid Parental Leave
How did paid parental leave get to be so contentious? The current debate is not about parental leave in general; the entitlement to 12 months with a potential for 24 months of unpaid leave with…
Changes to aged pension rules
From 1 January 2017 Government changes to the Age Pension are likely to reduce many Age Pension recipient’s entitlements. It’s important that you understand how the changes could affect you.
Making Sense of Super Reforms
If you are waiting for the superannuation reforms announced in the Budget to pass Parliament before working out what they mean to you, you might miss out on any opportunities available. When enacted, the reforms…
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…
Important year end tax planning information
With the 30 June just weeks away there are numerous things to consider for small businesses, trustees of discretionary trusts and companies in general. Here are a few of the main ones: Small Business Entities…
Budget 2016: Business Tax Cuts & Incentives
The Budget introduces a series of tax cuts progressively applied to business. Significantly, the threshold for accessing some of the small business entity concessions will increase dramatically from the current $2 million threshold to $10…
Budget 2016: Overview
The 2016-17 Federal Budget is a budget of targets – broad targets to boost business and innovation, and the narrow revenue targets of the wealthy and multi-nationals. It’s a big, long-term crafted budget designed to…
