Topics covered in this edition of our Client Information Bulletin are: Loans from Private Companies Division 7A rules. Proposed changes to Division 7A. Is your business car available for private use? Do you import goods and services? 4 ways to avoid simple mistakes with GST reporting. Do you hold vacant land? Your expenses may no longer be
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Reduced corporate income tax rate As you may be aware, the income tax rate for companies under specific turnover thresholds has been reduced to 27.5% with further reductions scheduled to ultimately reduce the company income tax rate for these companies to 25%. Accessing the lower tax rate has the downside of also reducing the franking
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The ATO has just released a Taxpayer Alert regarding the latest scam techniques used to defraud taxpayers. Recently, the scammers have begun to impersonate Tax Agents in attempt to build legitimacy to their phone calls. The scammers will coerce the victim into releasing the Tax Agent’s name and then initiate a three-way phone conversation between
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5 tax time changes that may affect you Common lodgement mistakes and how to avoid them Claiming deductions? Top 10 myths busted Lodgement deadline Rental property deductions – the do’s and don’ts! What’s new for small business? What business income do I need to declare? What concessions can small business tap into this tax time?
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4 Federal Budget tax measures that impact your business Are you ready for tax time? Quick tips to help you this EOFY What’s attracting the ATO’s attention this tax time? Are you making the most of your tax concessions? Do you need to pay payroll tax? Changes to GST on property transactions Key tax dates
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The Federal Budget for 2018/19 was handed down by the Treasurer, Mr Scott Morrison, at 7.30 pm (AEST) on 8 May 2018. Download link to detailed Blaze Acumen Federal Budget Tax Bulletin 2018-19 Highlights The key tax and superannuation highlights from the Budget are summarised below. The detail can be found at the link above.
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Investing in Bitcoin? Know the tax implications ATO cracking down on your work-related expenses! Claiming the cost of repairs on rental property? What you can and can’t claim Are you risking your retiremenet savings? Key tax dates Click here to DOWNLOAD CIB – April edition 2018
The Treasury Law Amendment (2018 Measure No. 1) Bill 2018 was introduced into Parliament on 7 February 2018 and includes under Schedule 5 proposed changes to the Goods and Services Tax (GST) withholding regime on sales of new residential premises and potential residential land. These are as previously announced in last year’s Budget. A summary
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The small business $20,000 instant asset write-off extended… time to go shopping! Changes are coming to GST from 1 July 2018: is your business ready? Hot to make your GST reporting easier Did you know that some fresh foods are subject to GST? Do you provide cards, holidays or club memberships to your employees? Superannuation:
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Draft legislation has been released on 6 November 2017 in relation to GST withholding for sales of new residential premises or new potential residential land (for example subdivided residential lots). The proposed new rules were first mentioned in the 2017-18 Federal Budget and apply to contracts entered into on or after 1 July 2018, and
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