Accounting & Wealth Insights

The federal election is this weekend, 18th May 2019 , both major parties have outlined their superannuation and tax policies. With the federal election only days away many of our clients have been asking what the major political parties’ policies are that may impact their SMSF, individual taxation circumstances or personal investments. If you would…

The Commissioner has given notice that it will collect data from cryptocurrency designated service providers, under notice, to identify individuals or businesses who have or may be engaged in buying, selling or transferring cryptocurrency during the 2014/15 to 2019/20 financial years.

The Australian Labor Party (ALP) has announced an intention in government to change franking credits from a refundable to a non-refundable tax credit from 1 July 2019.

Single Touch Payroll (STP) has changed where every employer will be required to use the system from 1 July 2019. If you are still using a manual system to pay your staff, you will need to change soon.

Officially, the $30,000 instant asset write-off has been passed by both houses of parliament on 4 April 2019. This means that from 7:30pm AEDT 2 April 2019 to 30 June 2020, assets purchased less than $30,000 will be entitled for an immediate write-off.

With the 2019 federal budget, the treasurer announced that the federal government intends to increase the low and middle income tax offset (LAMITO). If enacted, the increase would begin in the current 2018/19 income year.