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October 6, 2020

FEDERAL BUDGET 2020/21 – SNAPSHOT FOR SMES AND INDIVIDUALS

The Government has handed down its 2020/21 Federal Budget with plenty of tax measures. The most significant announcements for the SME market are the introduction of a full deduction for acquisition of capital assets (not subject to a cost limit) and the loss carry-back rules being re-implemented for a temporary period. Personal Tax Rate Cuts As expected, the Government has […]
August 7, 2020

JobKeeper Update – Treasury Announcement

Important Change to Current JobKeeper Rules The Government has today announced an important update to the JobKeeper rules. Effective from 3 August 2020, the relevant date of employment will move from 1 March 2020 to 1 July 2020. This will mean that employees will be eligible for the JobKeeper payments if they were either: – a full-time, part-time or fixed-term […]
December 1, 2019

Tax Bulletin – October 2019

October has seen the passing of the controversial legislation for the denial of holding costs in relation to vacant land, although many concerns have been addressed with amendments to the legislation. At a TIA conference, the ATO have provided more details on reimbursement agreements and the application to trust distributions within families.  LEGISLATIVE UPDATE Denial of deductions for holding costs […]