Based on our analysis, the big winners appear to be:
Business – the instant tax deduction for buying equipment, cars, […]
Example
The […]
For 2021, key priorities are likely to include:
Deferring taxable income Bringing forward deductible expenses Maximising superannuation contributions without exceeding the […]
With changes in rulings around foreign beneficiaries in discretionary trusts owning residential property happening for Victoria at the beginning of this year, and NSW at the end […]
Background
Trusts are governed by are […]
1.1 Changes to personal income tax rates
The Government has announced that it will bring forward changes to the personal income tax rates that were due to apply from 1 July 2022, so that these changes now apply from 1 July 2020 (i.e., from […]
business providing building and construction services cleaning services for contractor payments from 1 July 2018 (first report due by 28 August 2019) courier services for contractor payments from 1 July 2018 (first report due by 28 August 2019) […]
NSW Government Land Tax support
Up to 25% of your 2020 land tax liability and a 3-month deferment on paying your land tax.
This relief applies to landlords who agreed to […]
Business tax changes for a new financial year
From 1 July 2019, if taxpayers don’t meet their PAYG withholding and reporting obligations to the ATO, they will not be able to claim a tax deduction for payments:
of salary, wages, commissions, bonuses or allowances to […]
6 Final reminders of how to reduce tax for 2020
As a business owner, there are many obligations that you need to consider and action just before and after 30 June.
Some of these will help to minimise your tax. Others will reduce your exposure to an ATO tax audit. […]