Aug 8, 2017
Small business can take advantage of $20,000 immediate write-off In March 2017, as part of Treasury Laws Amendment (Enterprise Tax Plan) Bill 2016, the definition of a small business was changed to include those enterprises with an aggregated turnover of less than $10...Aug 4, 2017
The ATO has recently expressed concerns about the increase in claims by taxpayers for certain work related expenses, including clothing and laundry expenses, and has advised that it is an area where it will be “increasing attention, scrutiny and...Aug 2, 2017
On 9 May 2017, the Government announced changes to the foreign resident capital gains withholding (FRCGW) rate and threshold. The changes will apply to contracts entered into on or after 1 July 2017: for real property disposals where the contract price is $750,000 and...Jul 20, 2017
From 1 July 2022 the following car threshold amounts apply: Income tax There’s an upper limit on the cost the taxpayers use to work out the depreciation for the business use of car or station wagon, including four-wheel drives. They need to use the car limit...Jul 10, 2016
From 1 July 2016, small businesses will be able to change their legal structure without incurring any income tax liability for certain transactions. This applies when transferring active assets that are CGT assets, trading stock, revenue assets and depreciating...Jun 6, 2016
The new budget introduced major changes concerning Australian superannuation system.Some of the major proposed changes include:Changes to contributions caps, including the introduction of a lifetime non-concessional capLimits to how much can be transferred into...
