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The end of the financial year is near!

A range of measures for small businesses were included in the 2015-16 Federal Budget. These are listed below: Company tax rate cut - The tax rate for companies with an aggregated annual turnover of less than $2 million will be reduced by 1.5% to (ie from 30% to 28.5%) from the 2015-16 income year. Tax [...]

Individual News – April

Income thresholds Legislation was passed in October 2014 to pause for three years the income thresholds which determine the tiers for the Medicare levy surcharge and government rebate on private health insurance from the 2015-16 financial year. Usually the income amounts would be increased by an indexed amount, but this is not going to happen [...]

Individual News – September

It is that time of year again – it’s time to do your 2014 Income Tax Return. The financial year ended on 30 June 2014 so all individuals who earn income must now start to think about (and then do) their tax returns. Individuals generally should lodge their returns by 31 October 2014, however depending [...]

Business Bulletin – June

The end of the financial year is coming and it’s time to start thinking about your 2014 Income Tax Return. Now is a good time to start reviewing certain assets and liabilities owned by your business and consider if there is anything you should do prior to 30 June 2014 rolling around. Are there any [...]

2014 -15 Budget Edition

The 2014-15 Federal Budget was handed down on 13 May 2014. This Budget is intended to reduce the deficit from the current level of $49.9 billion to $29.8 billion. The Treasurer, the Hon. Joe Hockey MP, stated that the budget is about the “national interest” and that there is no easy way to [...]