Just a few changes to tax in the budget this time ………….. The proposed tax cuts are being implemented from 1st July which comprise the following the tax free allowance remains unchanged at $18,200, the 19% rate on earnings up to $45,000 drops to 16%, and the 32.5% rate on earnings up to $135,000 (previously… Read More Federal Budget 2024 – summary
We have a detailed budget summary available for you on the newsletter page, which you can access by clicking here. I just want to clarify a few issues which have been raised in the past few days by clients. When will the reduced tax rates be applied to my salary? The ATO will release new… Read More Budget Update 2020
Low Cost Asset Write Off The $20,000 immediate deduction threshold for assets purchased by businesses with an aggregated turnover of under $10 million ends 30 June 2018. If you are a small business, and eligible to access this deduction, it’s your last chance. So if you NEED plant and equipment there is a argument to… Read More Last Chance for the 20K Deduction
