Federal Budget 2018: Economic Outlook
This month, Morgans put the Federal Budget under the spotlight this month and look at what it means for taxpayers and the equity market. Higher commodity prices and improving terms of trade have helped take…
Victorian Tax Changes for 2018
The State Taxation Acts Amendment Bill 2018, which received Royal Assent in early June, introduces a number of changes to payroll tax, duties and unclaimed money, including those flagged in the 2018-19 Victorian Budget. The amendments, most of which…
Do you have an interest only investment property loan?
The concern around interest only loans has been well publicised recently, with many economists concerned that tougher lending standards will place a proportion of investors under financial stress when interest only periods for individual borrowers…
Your essential EOFY tax checklist
No one wants to pay more tax than they need to or face unnecessary risks. We’ve compiled a list of our top tips for you. Donate - If you are going to donate to charity,…
What’s changing on 1 July 2018?
Individuals Personal tax bracket changes - The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000*. Introduction of the Low and Middle Income Tax Offset* providing a tax offset…
One-Off Super Guarantee Amnesty
Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self-correct” under a new amnesty announced late last month. The ATO estimates that $2.85 billion is currently owed in…
Budget 2018: Individuals & Families
Person Income Tax Cuts The anticipated personal income tax cuts will be delivered as part of a seven year plan culminating in the removal of one tax bracket from 1 July 2024. The Government states…
Budget 2018: For Businesses
$20K Accelerated Depreciation Extended The ability for small business entities to claim an immediate deduction for assets costing less than $20,000 has been extended until 30 June 2019. From 1 July 2019, the immediate deduction threshold will…
Federal Budget 2018: Superannuation
3 Year Cycle for SMSF Audits Date of Effect: 1st July 2019 SMSFs with a history of good record‑keeping and compliance – that is, three consecutive years of clear audit reports and annual returns lodged on…
Budget 2018: Property Investors
Deductions will be denied for expenses associated with holding vacant land. The Government is concerned that deductions are being improperly claimed for expenses, such as interest costs, related to holding vacant land, where the land…
