The 2018 May budget included many notable and highly publicised tax amendments that impact almost all Australians. Little attention has been paid to the fact that the Commonwealth penalty unit increased from $180 to $210.
Tuesday 26th September 2017
Fuel tax credits have increased for fuel acquired after 1 August 2017, in accordance with the CPI increase. These rates are indexed twice a year.
Tuesday 8th August 2017
Recent announcements of 2017/18 state budgets in New South Wales and Queensland have changed the landscape for foreign investors of residential real estate.
Sunday 2nd July 2017
As Australia takes stock after Ex Tropical Cyclone Debbie both the Queensland & New South Wales governments have published details of their small business support packages.
Monday 3rd April 2017
The ATO confirmed in a recent Private Binding Ruling that any consistent private use of SUVs or utility vehicles is a residual fringe benefit.
Tuesday 28th March 2017
Businesses operating in the cash economy will get increased scrutiny in the coming months. The ATO has been sending officers to visit businesses in all capital cities in industries notorious for not declaring all income in tax returns and BASs.
Friday 17th March 2017
From 1 January 2018 any residential properties that are left vacant for more than six month in inner city and middle areas of Melbourne will incur the new Victorian Vacant Residential Tax.
Tuesday 14th March 2017
Audit Shield is a group insurance policy held by GMD Chartered Accountants that protects our clients from professional service costs incurred by the ATOs increased audit activities.
Wednesday 1st February 2017