The new Act reduces the company tax rate from 30 per cent to 28.5 per cent for companies that are small business entities with an aggregated turnover of less than $2 million from the 2015-16 income year. The corporate tax rate for companies that have an aggregated turnover of $2 million or more remains at…
Last Tuesday Joe Hockey handed down his second budget. I can safely say this isn’t as harsh and boring as the budget from a year ago. Small businesses that are making some money are the big winners. The Instant Asset Write-Off From 7:30pm Budget night to 30th June 2017 if you are a small business…
Whenever you get audited by the ATO it’s never a good thing. FBT Car Audit Activity is on the rise. If you have a non commercial vehicle in a company or trust structure you should be prepared if you do have an audit as coming through unscathed may be difficult. Here are some tips. Valid…
Maximise Super Contributions – Use the Cap $30, 000 for people aged 18-49 as at 30 June 2014. $35, 000 for those 50 and above. Caps will remain the same in the 2015 year. Super guarantee is included in these caps. So do not exceed the limits as 46.5% tax will apply. Superfund must receive…
