New depreciation legislation for Australian property investors – Second-hand residential properties
In one of the most dramatic changes to property depreciation legislation in more than 15 years, Parliament has passed the Treasury Laws Amendment (Housing Tax Integrity) Bill 2017 as at Wednesday 15th November 2017, with the Bill now legislation.
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Planning for the post-Christmas slump
Planning for the post-Christmas slump
If you have failed to properly prepare for the post-Christmas slowdown many businesses experience, you may be in for a shock when you return from your well-deserved break.
Post-Christmas is a dangerous…
New government bill introduced on company tax issue
The federal government has introduced a bill clarifying the tax rate for passive investment companies, after a period of consultation with the industry revealed a series of flaws with its initial approach.
The passage of Treasury Laws Amendment…
Draft legislation on lower corporate tax rate eligibility released
Treasury has released exposure draft legislation that will generally exclude passive investment companies from accessing the lower corporate tax rate from the 2016/17 income year.
Currently, the corporate tax rate for qualifying…
Crowd-sourced equity funding for proprietary companies Bill introduced
Crowd-sourced equity funding is an innovative type of fundraising that allows a large number of individuals to make small financial investments in exchange for an equity stake in the company.
Legislation to create a crowd-sourced equity funding regime…
The ATO has issued a statement on mental health issues for business owners
One in five people in the workplace experience some sort of mental health condition. Stress, depression or anxiety can take a toll on your ability to run your business as well as your overall quality of life.
To mark World Mental Health Day…
The 2017 SMSF return: are you up for the challenge?
This article is reprinted from Acuity Magazine.
Under the new super rules, this year’s SMSF returns are going to be very complex and it’s important that practitioners are up to speed.
In Brief
There’s no such thing as simple…
Occupation-specific guides
There have been a lot of discussions regarding work related deductions in the present. The ATO has published a guide as follows.
When completing your tax return, you're entitled to claim deductions for some expenses, most of which are directly…
Catching the wave of SMSF opportunities
This is a reprinted report of an article posted by Class, Australia’s leading cloud-based SMSF administration software.
Kevin Bungard, CEO of Class, shares insights into how the advance in technology is driving a revolution in the competitive…
TAX CHANGES FOR SMALL BUSINESS - UPDATES
Instant deductibility threshold extended
Budget 2017-18 has extended the instant deduction for depreciating business assets costing less than $20,000 until 30 June 2018.
Please note that this provision only lets small businesses to claim…