Budget Issues for Taxpayers in Special Circumstances
Last Tuesday’s Budget speech saw significant changes to certain specific circumstances. In particular the following will affect some Taxpayers: Changes to CGT of foreign resident
Budget Issues for Business Taxpayers
Last Tuesday’s Budget Speech saw significant changes to Business Taxation. In particular Business Taxpayers should be aware of the following: All entities with a turnover of more
Budget Issues for Personal Taxpayers
Last Tuesday’s Budget speech saw significant changes to personal and business taxation. In particular personal taxpayers should be aware of the following: Cancellation of the Bab
Specific Industries or Activities
Industries and business activities affected by tax changes in 2012/13: Irrigation and water infrastructure Shipping Primary producers – seeding equipment Carbon pricing – holde
Companies – Loss Carry-Back
Companies that have paid tax in the past, that incur a loss in the 2012-13 income year, may be able to obtain a refund of some of the tax previously paid. Multiple conditions apply
Income Tax Changes – Individuals (2013 General Taxation Strategies)
Tax-Free Threshold and Tax Rates The tax-free threshold for 2012/13 for Australian resident individuals is $18,200 (up from $6,000). When combined with the Low Income Tax Of
Income Tax Changes – Small Businesses (2013 General Tax Strategies)
There are significant changes to the timing of deductions for plant & equipment. Items costing less than $6,500 excluding GST are now immediately deductible (up from $1,
Other Tax Planning Considerations (2013 General Tax Strategies)
Contact us for advice if you have moved to or from Australia for an extended period. You may need to review your residency status for tax purposes. There are important tax conseque
Personal Taxation Issues (2013 General Tax Strategies)
Subject to cash flow requirements, set term deposits to mature in the next financial year (i.e. after 1 July, rather than before 30 June). Consider realising capital losses if you
Business Income and Expenses (2013 General Tax Strategies)
Subject to cash flow requirements, consider deferring income until after 30 June, especially if you expect lower income for 2013/14 compared to 2012/13. Most businesses are taxed o