Happy Tax New Year
A number of tax changes came into place as of July 1. We've prepared a guide for our clients and friends of the firm. The guide outlines the changes for: individuals; businesses; and, the guide is also useful for professional advisors to assist their clients who may be affected by the changes. These changes apply to landlords, small business owners, foreign investors, first home purchasers, superannuation, individuals with HECS debt and more. Reduction in Tax rate for Individ
Deficit Repair Levy - A Salary Packaging Opportunity
A salary packaging opportunity has arisen for individuals earning over $180,000 due to the newly announced tax measures in the 2014 Federal Budget. From 1 July 2014, individuals with taxable income over $180,000 will be subject to the 2% Deficit Repair Levy. However, due to the lag in the FBT year, the equalising 2% increase of FBT will not occur until the later date of 1 April 2015. This 9 month delay provides a 2c tax benefit for every dollar the individual’s diverts from t
