Innovation Tax Incentives

The Government’s innovation policy announced today has a number tax and business initiatives designed to encourage and support the risk of investment in new ventures. Among the measures: Support is to be provided by way of tax incentives for early-stage investments, there is a softening of some of the business rules around disclosures, fund-raising and insolvency, and the provision of … Read more

Updates – December 2015

The just-finished 2015 parliamentary sessions have been busy, and so have we. Although the year is by no means finished yet (the 2015 MYEFO is due mid-December), we’re grabbing a pause for a round-up of some of the more significant recent developments and site content updates. The government is intending to give the Commissioner of Taxation the power to … Read more

2015-16 Tax Rates Clarified

After more than a year of uncertainty, the Federal parliament has confirmed the personal income tax rates which are to apply from 1 July 2015. Passage of the necessary tax scale repeal legislation was achieved with the support of the Labor Opposition in the Senate. See tax rates 2015-16. The previously legislated personal tax scale for 2015-16 provides for a slight overall net tax … Read more

Carbon Tax Gone – But Budget Headaches Remain

The government has finally achieved its much-publicised objective of getting rid of the carbon tax, when the Senate approved the package of repeal bills on 17 July 2014. But winning the Senate’s approval has come at a cost – in earlier repeal attempts the government accepted the separation from the bills package the specific measure removing the … Read more

A List of Checklists

In the period running up to June 30 there are tax return and other types of tax checklists appearing on various websites. When we come across a useful free checklist we link to it here. Suggestions for additions to the list are welcome, with attribution. See [su_button url=”/checklists/” target=”blank” style=”3d” background=”#8B0000″ size=”5″ icon=”icon: arrow-right”]Checklists[/su_button]