News

LRBAs, guarantees in need of review after property market falls

With property markets taking a tumble in recent times, some SMSF clients may need to review the loan arrangements and guarantees they have, particularly where the loan-to-value ratio has significantly dropped, says an industry lawyer.

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Victorian Property Valuation Cycle

Valuations of Victorian properties are now undertaken annually instead of every two years.

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Australia – toward EOFY 2019

          One great source of data about Australia. Become better acquainted with the country we love. An up-to-date snapshot of Australia's vital statistics.   Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing Taxes […]

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ATO expects 200,000 to miss out on refunds by failing to lodge

            The ATO expects that 200,000 people could miss out on a tax refund this year because they haven’t lodged a tax return. Many salary and wage earners end up with a tax refund, but some are missing out because they fail to lodge on time. Taxpayers had until 31 […]

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Biggest personal tax cuts in a decade a priority for Government

Prime Minister Scott Morrison has signalled that getting his tax changes through parliament will be a top priority for his re-elected government.

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Government rules out GST changes following ATO report

The government has turned down suggestions that it is considering broadening the GST base, following reports that the ATO had called for GST to be revisited on certain exempt food items.

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ATO issues warning after ‘unprecedented’ spike in impersonation scams

Over $1 million in losses and more than 40,000 impersonation scams has raised alarm bells at the tax office, with clients warned on impersonated ATO phone numbers and pre-recorded messages.

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Crypto transactions in ATO sights with new data-matching program

Up to 1 million taxpayers who have engaged in buying, selling or transferring cryptocurrency will now be subject to ATO scrutiny as it begins a new data-matching program ahead of tax time.

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Government to establish $2 billion fund for small business lending

            The Government has announced that it will establish a $2 billion Australian Business Securitisation Fund and an Australian Business Growth Fund to provide longer-term equity funding for small businesses. Small businesses currently find it difficult to obtain finance on competitive terms unless it is secured against real estate. To […]

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Small business corporate tax rates Bill is now law

              The company tax rate for base rate entities will now reduce from 27.5% to 26% in 2020–2021, and then to 25% for 2021–2022 and later income years. This means eligible corporate taxpayers will pay 25% in 2021–2022, rather than from 2026–2027. The new law also increases the small […]

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