2017-18 Tax rates and thresholds guide
2017 Federal Budget Update
The Budget announcements contain tax and superannuation measures aimed at increasing housing stock and improving affordability.
- Key factors for rescuing a bad debt deduction.
- Rental property owners lose some deductions.
- When refinancing, loan interest can be deductible to a partnership.
- Can an SMSF invest in property development?
- ATO spells out its big FBT concerns.
- The ins and outs of 'entertainment' business deductions.
- Ten tips for rental property owners to avoid common tax mistakes.
- Stay alert for scams and fraud.
- Understanding novated leases, FBT and claims for work-related car expenses.
- Forced to unwind your LRBA? Best to have a contingency plan.
- Tax and Christmas party planning.
- Taxation of foreign income derived by Australian residents.
- Beware of Division 7A when borrowing from your business.
- Is that a travel allowance or living away from home allowance (LAFHA)?
- What the proposed housing-based super contribution initiatives offer.
- Considering ride-sharing for income? Tips and traps.
- High income earners: Beware Division 293!
- Immediate deductions for start-up costs.
- Small business car parking FBT exemption
Instant Asset Write-Off
If you are a small business (with a turnover of less than $10 million) contemplating buying machinery or equipment, be aware that this is the final year of the $20 000 instant asset write-off.
Small businesses may wish to consider bringing forward any planned asset investments to the current financial year – particularly in this current low interest-rate environment.
OTHER IMPORTANT INFORMATION:
If you employ staff then you will probably have to change the way you make their super contributions from 1 July 2015. From July 2015, ALL Employers irrespective of size will have to apply the mandatory data standards for their staff super contributions. This might mean upgrading your payroll systems, outsourcing your payroll function, or using a commercial clearing house. To find exactly out what this means for you and what you have to do to comply with the new rules please read the following article: From July 2015 ALL EMPLOYERS MUST USE Mandatory data Standards for their Staff Super Contributions.
As always, please feel free to give us a call on (07) 54391600 to have a chat.