Company tax rate changes
06 Sep 2018
Overview There are changes to the company tax rates. The full company tax rate is 30% and the lower company tax rate is 27.5%. The following shows when to apply the lower rate and how to work out franking credits. Company tax rates apply to: companies corporate unit trusts public trading trusts. The full company tax […]
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ATO: Common tax mistakes
06 Jul 2018
Common tax mistakes As tax time 2018 kicks off, the Australian Taxation Office (ATO) has profiled the five most common tax mistakes and the personalities most likely to have tax time troubles. Assistant Commissioner Kath Anderson said it’s often simple mistakes and misunderstandings that trip people up. “While we know most people want to get […]
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ATO – Laundry claims put through the wringer
03 Jul 2018
Overview – Laundry Expenses A focus on work-related clothing and laundry expenses this Tax Time will see the Australian Taxation Office (ATO) more closely examine taxpayers whose clothing claims don’t suit them. “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these […]
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Annual vacancy fee for foreign owners
03 Jul 2018
Overview In December 2017 the Australian Government introduced an annual vacancy fee for foreign owners of residential dwellings. Under the legislation, foreign owners of residential dwellings in Australia are required to pay an annual vacancy fee if their dwelling is not residentially occupied or rented out for more than 183 days (six months) in a year. […]
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