Tax News

The 2018 financial year will be the first year to be impacted by changes introduced to limit deductions that can be claimed by individual residential property investors.Firstly, travel expenditure (ca
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In 2012, the ABS estimated the black economy had grown to 1.5% of GDP or $25 billion per year in today’s dollars.While the black economy is a long standing issue, new threats are emerging which have
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With state of the art data matching capabilities, the Australian Taxation Office (ATO) is casting a wide net in the 2017 year. Some of the areas that appear to be on the hit list are summarised below:
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As it stands, small business entities with a turnover of less than $2 million are taxed at a 28.5% rate (as at 1 July 2015).The 2016-17 Budget proposed a further reduction of this tax rate to 27.5% fr
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A reminder for all employers to be ready for the Government’s SuperStream initiative by 30 June 2016.Under SuperStream, employers will be required to make super contributions on behalf of employees
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It has been a little quiet on the tax front in recent months. The following is an update of some of the changes affecting small businesses.Company Tax RateAs from 1 July 2015, the small business compa
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