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2019 Federal Budget Changes
2019 Federal Budget Changes - Individuals Increase the Low and Middle Income Tax Offset from 1 July 2018 for this Current 2019 Financial Year from $530 up to a maximum $1,080 to be received on assessment. To provide an immediate benefit to assist families with...
2019 Federal Budget Changes – Superannuation
Remove the Work Test for People Aged 65 and 66 years from 1 July 2020 Remove the need to meet the Work Test to make voluntary superannuation contributions of both concessional and non concessional contributions by people aged 65 and 66 years from 1 July 2020. Access...
2019 Federal Budget Changes – Businesses
Increase the Instant Asset Write Off from $25,000 to $30,000 and Extend it to Medium Businesses The Government has announced that it will increase the instant asset write off from $25,000 to $30,000 from 2 April 2019 to 30 June 2020 for Small Businesses with an...
2019 Federal Budget Changes – Individuals
Personal Tax Cuts Targeting Low and Middle Income Earners More than Double the Low and Middle Income Tax Offset Increase the Low and Middle Income Tax Offset from 1 July 2018 for this Current 2019 Financial Year from $530 up to a maximum $1,080 to be received on...
Single Touch Payroll
Single Touch Payroll (STP) has been extended to apply to employers with less than 20 employees from 1 July 2019. The Legislation has been passed by the Federal Government. Employers will need to register with the ATO and make sure they are ready to report wages, PAYG...
2018 Tax Planning Options (Video)
https://youtu.be/Pp31pg54LN4
2018 Tax Planning Options
Want to Save Tax Now? Let Us Give You Direction. The 2018 Budget has pushed most of the proposed tax benefits to 2023 and 2025 financial years. How do you save tax now? Do the following Options Apply to You? Making Personal Super Deductions is a great way to Save Tax!...
2018 Federal Budget Changes – Superannuation
Exemption from the Work Test To Make Personal Contributions in the First Ineligible Year From 1 July 2019, the Government plans to provide an exemption from the Work Test for people aged 65 to 74 for voluntary contributions to superannuation where there superannuation...
2018 Federal Budget Changes – Businesses
The $20,000 Asset Write Off Has Been Extended! The Government has announced in the budget that it will extend the $20,000 Asset Write Off for another 12 months to 30 June 2019 for businesses with an aggregated annual turnover of less than $10 million. Small businesses...
2018 Federal Budget Changes – Individuals
Personal Tax Cuts in a 3 Step Plan to be Implemented Over 7 years Step 1: Target Relief for Low and Middle Income Earners The government will introduce the Low and Middle Income Tax Offset (LAMITO) which is a non-refundable tax offset of up to $530 per year made...
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