Monthly Archives: May 2018

The Federal Budget 2018: What you need to know.

Personal income tax cuts for low to middle income earners. From July this year, the 32.5% tax bracket will be lifted to $90,000 from $87,000. A new tax offset of $530 a year, paid as a lump sum. Those earning between $48,000 and $90,000 will get the full benefit of the offset. The Tax system […]

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Do you Import low value goods? If so, this one’s for you!

Are you a small business importing goods worth over A$1,000 from overseas? Are you registered for Australian goods and services tax (GST)? Then you must know that, from 1 July 2018, (GST) will apply to sales of such low value goods. For more information on what this means for your business, click the link Here. (Source: […]

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ATO Cracks down on FBT Lodgements

When it comes to fringe benefits tax (FBT), a simple mistake or omission can attract the ATO’s attention. Small businesses are encouraged to be mindful of focus areas that provide clarity in their reporting obligations and entitlements to avoid penalties from the statutory agency. Businesses are encouraged to avoid behaviours, characteristics and tax issues that may […]

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