Category: Individuals

2019 Federal Budget Measures Legislated

Following our post last week, we note that the following measures that were announced in the budget have been legislated: Changes to Instant Asset Write-Off Provisions The announced changes to the instant asset write-off were legislated with the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill receiving Royal Assent on 6 April. […]

2019 Federal Budget

Last night Treasurer Josh Frydenberg delivered the first budget of the Morrison Government. As expected, it was compete with good news and promises for voters in the hope that the Government can get a large enough bump in the polls to be reelected in May. Given this political backdrop, and the polling to date (as […]

2016 Budget Update for Individuals and Families

Last night the Treasurer delivered his first budget, which lays the way for a Federal Election on 2 July. This year we have split our Federal Budget update into two parts, part one below for individuals and families and part two for businesses. To read more about the announcements for business you can read part […]

Tax Lodgement Due Date Fast Approaching

The final date for the lodgement of 2015 income tax returns is 16 May*. That is less than one month away! It is important to lodge your tax returns on time, as the ATO may impose penalties and charge interest on any amounts due if your return is lodged late. Additionally, if you have a […]

ATO Introduces myDeductions Tool

This week the ATO has introduced a new tool in their mobile phone app called myDeductions. This app is available for most smartphones, including Android, Apple and Windows Phones. According to the ATO, this tool makes it easier for individuals to keep deduction records, and will allow this information to uploaded and included in your […]

2015 Federal Budget

Last night Joe Hockey delivered the Abbott Government’s second budget. As there is no shortage of commentary on the politics of the budget, we have focused on taxation and related changes within the budget and their impact of this budget on small businesses, individuals and families. There are other announcements, including some that will impact […]