TAX CHANGES UNDER THE NEW GOVERNMENT

The new government has identified and 92 announced but still UN-legislated and unresolved tax and superannuation changes. Of these, the government stated it will proceed with 18 initiatives, a further three initiatives will be significantly amended, and it will not...

Tax Updates – Depreciation rules for business 2013

Simple depreciation rules for your business The ATO has reminded small businesses with a turnover of less than $2 million (i.e., small business entities or ‘SMEs’) that the depreciation rules for business assets are now simpler from the 2012/13 income year onwards....

End of Financial Year Tax Updates

Federal Budget may introduce some new considerations into your tax planning strategies, there remain many tactics you can consider to ensure you pay not one cent more tax than is necessary. Remember the best tax planning should commence in July; that is, as early as...

Tax Tips

Tax Tips: Work related claims You can claim up to $300 for work-related expenses without providing documentary evidence, However make sure if you are claiming over this amount that you have kept receipts. Keep your receipts and records for five years from the date you...