Big changes proposed to eligibility for the CGT SBCs The Treasurer has released draft legislation containing new “integrity improvements” to the CGT small business concessions (‘SBCs’) (i.e. including the 15-year exemption, the retirement exemption, the 50% active asset reduction and the small business roll-over). Due to the government’s “continued support for genuine small business taxpayers”, it...
ARE YOU EMPLOYING 20 OR MORE EMPLOYEES? MAJOR CHANGES TO YOUR REPORTING STARTING FROM 1 JULY 2018 Single Touch Payroll (STP) is a reporting regime whereby your payroll software reports directly to the Australian Taxation Office. Each pay period, the details of each employees gross payments, tax and superannuation will be provided electronically to the...
The sustained cooling of house price growth has seen first-home buyers flocking back to the market. Prices are no longer rising thanks to a number of factors including improved supply, and clampdowns on investor lending. A significant outcome of overheated property prices has been that a crucial toe-hold in the property market has been elusive...