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1 month ago

The final article in our April 2nd budget newsletter, How does the Budget impact on large businesses?

No tax increases or tax breaks were announced but there was confirmation that the ATO will increase their monitoring of, and investigation into, tax avoidance. A tax ‘management’ plan needs to be in place to support the reporting of results and the correct tax being paid.

The ATO reported last month that since 1 July 2016, $12.9bn in additional tax had been collected from public companies, multinationals and high wealth individuals. ... See MoreSee Less

How does the Budget impact on large businesses? | Thompsons Australia

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Talk to your tax adviser about any questions that arise or the impact that the Budget may have in your personal circumstances.

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Thompsons Australia

1 month ago

Continuing our pre-election budget edition newsletter- How does the budget impact small business?

The link below goes through some of the measures that have come out of the Budget and how they impact small businesses.

One such measure is the Immediate tax write-off for new purchases costing under $30,000

From Budget night until June 2020, there will be an immediate write-off for each asset purchased costing up to $29,999.99 for business with turnover up to $50m. This extends measures introduced last year. Previously, instant write-offs were limited to asset purchases costing below $19,999.99 (increased to $24,999.99 in January 2019) and for those with turnover under $10m. ... See MoreSee Less

How does the Budget impact small businesses? | Thompsons Australia

thompsonsaustralia.com.au

Always discuss with your tax adviser when considering purchasing assets or businesses. The way assets are described, documented, and the timing of purchase are important and may impact the claiming of the instant write-off.

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Thompsons Australia

1 month ago

More on the April 2nd federal budget- How does the budget impact individuals?

The article in this link goes through some of the measures that have come out of the Budget and how they impact individuals.

One such measure for low and middle income earners is -
Bringing forward personal income tax cuts that have already been legislated for. Such cuts are a substitute for wage increases. The tax reduction increases the available cash in the hand of the household.

Visit the link to continue reading. ... See MoreSee Less

How does the Budget impact individuals? | Thompsons Australia

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Thompsons Australia values - Service, Quality, Professionalism, Initiative, Efficiency, Experience, Trust, Commitment, Loyalty & Success

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1 month ago

As May 18 gets closer, so does the federal election. On April 2nd, the federal treasurer, Josh Frydenberg, delivered his first Federal Budget and this Government’s last before the May election.
This article link will give you some big picture highlights of the budget, as well as announcements on health, education, superannuation, infrastructure and more.

https://thompsonsaustralia.com.au/special-budget-edition-2019-20/… ... See MoreSee Less

Special Budget Edition 2019-20 | Thompsons Australia

thompsonsaustralia.com.au

On Tuesday 2 April, the Federal Treasurer, Josh Frydenberg, delivered his first Federal Budget and this Government’s last before the May election.

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Thompsons Australia

2 months ago

Meet our staff - Kamraan is a qualified Chartered Accountant with over 10 years experience. He specialises in Self Managed Superannuation Funds SMSF and can help you create and successfully manage your own SMSF. As a Chartered Accountant Kamraan has both the qualifications and wide ranging experience in all facets of business and personal accounting to be able to deliver great results for customers. When not working, Kamraan enjoys spending time with his family.

To find out how we can help you, visit the link below

#smsf #australiansmallbusiness ... See MoreSee Less

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Thompsons Australia values - Service, Quality, Professionalism, Initiative, Efficiency, Experience, Trust, Commitment, Loyalty & Success

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Thompsons Australia are international accountants and strategic business advisers for businesses and individuals with interests and investments in Australia and overseas.

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Coalition’s tax policies: How do these impact on businesses?

The Federal Election has come and gone. The Coalition has won and will be the next Federal Government. The Coalition … Read More

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