Federal Budget 2017
We are pleased to send you a link to our 2017 Budget Update download pdf
Federal Budget 2016-17
The lifetime cap will take into account all non-concessional contributions made on or after 1 July 2017 (i.e., from the 2018 income year) and will be indexed in $50,000 increments in line with average weekly ordinary times earnings. If an individual has exceeded the cap prior to commencement date (being 7.30 pm (AEST) on 3 May…
Federal Budget 2015-16
The government will significantly expand accelerated depreciation for small businesses. It will do this by allowing small businesses with aggregate annual turnover of less than $2 million to immediately deduct assets they start to use or install ready for…
End of year Tax planning 2015-16
The following outlines common types of deductible expenses claimed by individual taxpayers, such as employees and rental property owners, plus some strategies that can be adopted to increase deductions for the 2015/16 income year…
End of year Tax planning 2014-15
The following outlines common types of deductible expenses claimed by individual taxpayers, such as employees and rental property owners, plus some strategies that can be adopted to increase deductions for the 2014/15 income year.Salary and wage earners and rental property owners will generally be entitled to an immediate deduction if certain income-producing…
End of year Tax planning 2013-14
Salary and wage earners and rental property owners will generally be entitled to an immediate deduction if certain income-producing assets costing $300 or less are purchased before 1 July 2014.
Some purchases you may consider include -Some purchases you may consider include:
books and trade journals; briefcases/luggage…
The ATO has announced a new “Motor vehicle data matching program” to collect details of individuals or businesses that have purchased or acquired a vehicle costing $10,000 or more in the 2011/12 and the 2012/13 financial years.
Australians contacting the ATO by phone will now be given the choice to record a short “voiceprint” that can be used to verify their identity for future calls.
A voiceprint is a digital representation of the sound, rhythm, physical characteristics and patterns in a voice
The ATO says that its voluntary disclosure initiative, Project DO IT (in relation to taxpayers coming forward and disclosing overseas income and assets), is receiving a strong response with a number of people having already come forward to make a disclosure.
The ATO has assured people directly affected by bush fires that their refunds will be fast tracked and that they will have additional time to lodge income tax returns and activity statements.
The ATO can also provide more time for people to pay tax debts and can help reconstruct…
News Letter Dec 13
The ATO is warning taxpayers to protect their personal and financial details following a sharp spike in reports of tax-related email scams.Since June, reports from the public of ‘phishing’ scams have quadrupled from 3,586 to 15,441 compared with the same period last year…