February 2018 Tax Updates Small Business Advantages: The Australian Government is supporting small businesses through introducing the instant write-off for eligible assets costing less than $20,000 from 12 May 2015 to 30 June 2017, helping these businesses purchase assets and…
The Australian Government is supporting small businesses through introducing the instant write-off for eligible assets costing less than $20,000 from 12 May 2015 to 30 June 2017, helping these businesses purchase assets and grow (this is being extended for an…
It’s been tough recently without hearing arguments of pros and cons with the removal of residential property investors’ negative gearing taxation rebates. As it stands, the negative gearing process allows people to claim deductions against the income generated less the…
In individual tax return: From 1 July 2014, the Medicare levy will increase by half a percentage point, going from 1.5 per cent to 2 per cent. The reportable fringe benefits (FBT) amount of $3,738 will increase to $3,773 as…
To support the use of SuperStream standards for SMSF, the ATO will now collect and store SMSF superannuation bank account details and SMSF alias (electronic service address) details. The SMSF annual return has been modified to include two new data…