Targeted personal income tax cut
16 Jun 2016
On 9 May 2016 the Australian Government assumed a caretaker role. The continuation of this measure will be a matter for the incoming government to decide. In the 2016-17 Budget, the Government announced that the marginal tax rate of 37 per cent will now start at $87,000 instead of the current $80,000. To benefit from […]
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Small business income tax offset
02 Jun 2016
From 2015–16, an individual is entitled to a tax offset on the tax payable on their share of net small business income earned by a sole trader, partnership or trust that is a small business entity. Sole traders, partnerships and trusts that are small business entities need to work out their net small business income […]
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30 days until the SuperStream deadline
01 Jun 2016
The SuperStream 30 June deadline for small employers is nearly here. If you have clients who have not yet prepared, they have just days remaining to start using a compliant solution. Solutions your clients can use include upgrading their payroll software, using a super fund’s online system, a messaging portal, or using a clearing house. […]
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Company tax cuts for small business
31 May 2016
The small business company tax rate reduced from 30% to 28.5% for income years commencing on or after 1 July 2015. This lower rate also applies to small businesses that are corporate unit trusts and public trading trusts. The company tax rate remains at 30% for all other companies that are not small business entities. Source: […]
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