Checklist: 2016/17 year end — allowable deductions for individuals
Use this checklist to determine your eligibility for the most common work-related tax deductions for individuals. 2016/17 year end — … Read More
Tax changes for small businesses 2016/17 year end
This is a guide only to a selection of 2016/17 year-end tax changes affecting small business Additional entities now … Read More
Travel deductions for rental properties removed
After 1 July 2017, the deductions for travel to residential rental property will be disallowed. In particular, the travel cost … Read More
What is payroll tax in NSW?
Payroll tax in NSW is a tax imposed on employers and is calculated based upon the amount of taxable wages … Read More
Medicare levy to increase from 2.0% to 2.5%
An increase to the Medicare levy has been announced in federal parliament on 17 August 2017. The levy for individuals … Read More
Cents per kilometre claims in your tax return
Under the current rules of substantiation, the maximum distance that a taxpayer can claim without receipts for car expenses is … Read More
First home super saver scheme
Individuals who are yet to purchase their first home will be able to withdraw voluntary contributions from the superannuation account … Read More
UPDATE – GST on low-value imported goods
Update The Treasury Laws Amendment (GST Low Value Goods) Bill 2017 has been passed with amendments and now awaits assent. … Read More
Foreign property investors to pay more land tax and stamp duty
Starting with the Victorian Budget on 5 May 2015, the majority of states in Australia have implemented surcharges on foreign … Read More
Commissioner clarifies tax arrangements for working holiday makers
With a number of media reports circulating in relation to the tax treatment for working holiday makers and the tax … Read More
Key super rates and thresholds for 2017-18
The ATO has released the key superannuation rates and thresholds that apply to contributions and benefits, employment termination payments (ETP), … Read More
DISCLAIMER
Thompsons Australia Newsletters and articles are distributed by professional tax practitioners to provide information of general interest to our clients. The content of this newsletter does not constitute specific advice. Readers are encouraged to consult their tax adviser for advice on specific matters.