Blog
Buyers to withhold tax for ATO when buying certain properties
Buyers to withhold tax for ATO when buying certain properties. Parliament recently passed legislation amending the taxation law to impose withholding obligations on the purchasers of certain Australian assets – generally property purchased from a nonresident. However, the changes will affect most purchases of property in Australia! The amendments impose a 10% withholding obligation on...
ATO Matching
The ATO has just announced that it is starting a new “asset” data matching protocol, and extending another CGT and rental protocol that has been running successfully for the last ten years. Data matching on insurance taken out on certain assets owned by “wealthier” taxpayers The ATO has advised that it is working with insurance...
New Year Financial Resolution
Much like our personal goals, the new year is also a great time to think about our financial goals for the year. It should be a time where you look at what you want to achieve this year. Do you want to save for an overseas trip or do you want a house or some...
Happy New Year
Welcome to 2016. As a year we all hope and look on the new year as being a fresh start and hopefully a better year than the last. In order to achieve this we need to set new goals and re-align ourselves with our direction. We need to lay down a road map for the...
Reminder of small business tax cuts
Reminder of small business tax cuts The ATO has reminded taxpayers that, from 1 July 2015, a new two-tier company tax system took effect and applies to all companies. This system sees the whole of a company’s taxable income subject to the following rates: * 28.5% if the company’s aggregated turnover is below a $2...
