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RESULTS IN YOUR BUSINESS, FINANCIAL & TAXATION AFFAIRS
Fifteen years after the introduction of the GST in Australia debate still rages over what should be taxed and whether the GST rate should increase. Unless the Government changes the GST Act, any change requires the approval of the States and Territories. The Treasurers’ workshop late last month resolved to keep the GST rate at 10% but enable a series of other changes. We look at the key areas of change: GST on online products From 1 July 2017, the GST will be broadened to app
If you are not an Australian resident for tax purposes, you are excluded from many of the tax breaks available to residents and an increasing target of the Australian Taxation Office. We explore the widening gap between residents and non-residents. Scrutiny of Australian Investments With residential property prices soaring, foreign investment and ownership is in the spotlight. However, foreign residents and temporary visa holders cannot buy established residential property –
In a recent speech, Small Business Minister Bruce Bilson stated that a lot of his time talking about the $20,000 immediate deduction for small business was convincing people it was not a hand out. “I have spent a lot of my time explaining that asset write-off mechanisms aren’t grants, they are not gifts, they are not cash backs. They are a way of expensing a purchase in an asset that can contribute to a functioning business. Now, if you are not making any income there is not