After what seems like waiting an eternity, the government has finally put to Parliament its draft legislation around two of its schemes. 

The proposed schemes, the First Home Super Saver and Contributing the proceeds of downsizing to superannuation, are both pieces of legislation that are an attempt to bring into action proposals from the 2017 Federal Budget.

The proposals aim to:

1.   assist home buyers to save a deposit through their superannuation, and

2.   assist retirees to use some of their superannu...

To save you having to laboriously search for the right tax rate or relevant threshold, the essential information is right here in one place.

This guide includes tax rates, offset limits and benchmarks, rebate levels, allowances, and essential superannuation as well as fringe benefit tax rates and thresholds (including current gross-up factors).  Student loan repayment rates and salary levels are also included.

CLICK HERE TO VIEW THE GUIDE

The CGT relief concessions that are available to small businesses can be very generous. However they can also be complex and confusing, so knowing a few of the finer details can go a long way to ensuring your small business can take best advantage of them.

It’s never too early to consider an escape plan, so when setting up a business structure consider the effect of the proposed structure on potential exit strategies down the track. The small business CGT concessions, if properly utilised, provide opportunities fo...

A travel allowance is a payment made to employees to cover accommodation, food, drink or incidental expenses they incur when they travel away from their home overnight in the course of their duties.

In most circumstances, when claiming other deductions, you will be expected to be able to substantiate the expense being claimed with documentary evidence, and produce that evidence should the ATO request it.

However an exception to substantiate claims applies to travel allowance expenses if the ATO considers the total...

Just when many Australians are considering getting away for a winter break, the ATO is reminding taxpayers that it is paying close attention to rental properties located in popular holiday destinations around Australia.

The ATO recently issued a statement saying that last year it identified a large number of mistakes with deductions for rental properties, particularly with regards to holiday homes.

Read more in our July Newsletter.