For Small Business Entities (Turnover less than $2 Million) · 1.5 per cent cut in company tax to 28.5 per cent for incorporated small business from 01/07/2015 · 5 per cent tax discount for sole trader, partnership & trust up to $1,000 per year from 01/07/2015 · An immediate tax deduction for each individual asset […]
Income tax concessions Check whether you are eligible for the following income tax concessions, simplified trading stock rules, simplified depreciation rules, immediate deductions for prepaid expenses and a two-year amendment period. Simplified depreciation rules You can generally pool your assets to make depreciation calculations easier. You can find more information about the recent changes […]
Temporary Budget Repair Levy The Temporary Budget Repair Levy will mean individual taxpayers with a taxable income of more than $180,000 per year will have additional tax withheld by their employer, starting from 1 July 2014.
Claiming rental property expenses? ATO is increasing our focus on rental property deductions, so it’s important clients get their claims right. Some common errors made by rental property owners include: claiming rental deductions for properties not genuinely available for rent incorrectly claiming deductions for properties only available for rent part of the year such as […]
