Claiming the HECS–HELP benefit
09 Jun 2017
If you have graduated from studies in early childhood education, maths, science, education or nursing you may be eligible to apply for the HECS–HELP benefit. This benefit is an incentive for these graduates to take up related occupations or work in specified locations to reduce their compulsory HELP repayments The HECS–HELP benefit is coming to […]
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Simpler BAS is coming soon
01 Jun 2017
The ATO is reducing the amount of information needed for the Business Activity Statement (BAS) to simplify GST reporting. From 1 July 2017, Simpler BAS will be the default GST reporting method for small businesses with a GST turnover of less than $10 million. These businesses will only need to report: Total sales GST on […]
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Increasing the Medicare levy low-income thresholds
26 May 2017
On 9 May 2017, the Government announced that the Medicare levy low-income thresholds for singles, families, seniors and pensioners will increase from the 2016-17 income year. The threshold increases mean that households will not pay the Medicare levy if their taxable income is below a statutory low-income threshold. The singles threshold will increase to $21,655. […]
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First home super saver scheme
25 May 2017
On 9 May 2017, the Government announced that from 1 July 2018 individuals will be able to apply to withdraw voluntary contributions made to super after 1 July 2017 for a first home deposit. Voluntary contributions include: Undeducted (non-concessional) personal contributions Deducted (concessional) personal contributions Salary sacrifice contributions. Up to $15,000 of voluntary contributions made […]
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