News

Get up-to-speed on all the latest developments in the financial and accounting industry to help you get ahead.

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Individual tax rates – changes are coming

If re-elected the Liberal party have promised to simplify the current tax levels imposed on individual tax payers. They have also proposed to increase the eligibility for the low-income tax offset. The changes to the low-income tax offset would see taxpayers…..

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Self Funded Retirees and super – opposites collide

The Liberal party couldn’t be more opposite to the much-publicised Labor policy in regard to franking credits. Unless you’ve been living under a rock, many self-funded retirees should now be aware of the potential loss of franking…..

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Company Tax – on the chopping block

Anyone who operates a small business in Australia will already know the company tax rate has reduced from 30% to 27.5% in the last 2 years. The Morrison lead Liberal party plans to lower the company tax rate to even lower levels…..

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Ending Corporate Handouts from the Government

The Greens mantra is that Government spending should fund the services we all need to live a good life, not prop up industries which support the fortunate few over the rest of us. They believe the Liberal and Labor party…..

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End Tax Avoidance

According to the Greens statement on tax avoidance, Australians have had enough of multi- national companies and the super rich treating tax as an optional extra. The Greens believe our tax system…..

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Reverse Unfair Tax Cuts

According to the Greens published tax statement, everyone should pay their fair share of tax in order to contribute to a fairer, more equal society. This is based…..

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Self managed super funds

There are 2 major changes on the horizon for SMSF’s should Labor win the next election, which are outlined below. These proposed policy changes will affect those clients in pension mode and those seeking to purchase property within super.

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Taxing of Discretionary Trusts

For those clients who currently operate their business through a trust and distribute to family members, these changes will affect you. Under the current legislation (assuming Personal Services Income rules don’t apply)…..

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Capital Gains Tax

The Labor parties proposed negative gearing changes are also designed to interact with their proposed changes to capital gains tax. Building on the belief the current tax concessions for property investors…..

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Negative Gearing

The Labor parties proposed negative gearing changes are part of their overall strategy to make housing more affordable for working and middle-class families. Labor contends their proposed change to negative gearing is…..

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