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4
May

2016 Federal Budget Retirement Account Balance Cap

The budget handed down on 3 May 2016 included a number of unexpected changes in relation to the superannuation regime.  The most prominent was the introduction, with effect from 1 July 2017, of a cap of $1.6 million for an individual to hold in a tax-free retirement phase.

29
Apr

Whether To Stick Or Twist? The New MIT Regime

The new regime for taxing Managed Investment Trusts (“MIT”) comes into effect for income years commencing on or after 1 July 2016 (with the ability to opt-in from 1 July 2015).    The new MIT regime is optional with the MIT’s that adopt it being classed as an Attribution Managed Investment...

18
Apr

Small Business Restructure Rollover – What It Means For Your Business

Last month the Federal Parliament passed legislation that will allow small business owners to restructure their business without a tax penalty.

18
Apr

Negative Gearing: Potential Changes Ahead

Negative gearing is hugely popular for property investors in Australia due to the associated tax benefits. Recently the government has suggested negative gearing will be part of impending tax changes.  The proposed policies are outlined below.

18
Apr

Lease Incentives For Hospitality Businesses

Finding the right commercial premises for your restaurant or cafe can be a long drawn out process and when it is finally identified, the accounting, tax and cashflow implications of entering into the lease agreement are often misunderstood or not fully considered.

18
Apr

FBT And Salary Packaging Arrangements

It is the end of the FBT year and as you are no doubt aware the FBT rate increased from 47% to 49%, which in turn impacts Type 1 and Type 2 gross-up rates. This rate will also be utilised for the year ended 31 March 2017.

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