Entries by Peter Levick

What’s changing on 1 July 2018?

Individuals Personal tax bracket changes – The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000*. Introduction of the Low and Middle Income Tax Offset* providing a tax offset for those with taxable income of up to $125,333. GST on property developments and residential subdivisions – The way GST […]

One-off Super Guarantee Amnesty

Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self-correct” under a new amnesty announced late last month. The ATO estimates that $2.85 billion is currently owed in late or missing SG payments. Running from 24 May 2018 for 12 months, the amnesty encourages employers to reduce this […]

End of Financial Year

Your essential EOFY checklist With less than 3 weeks to the end of 2018, it is worthwhile to go over a few tax tips that will reduce the 2018 tax payable. Business Expenses If you need to incur repairs, purchase a new vehicle or other deductible costs, consider bringing forward this expenditure to before June […]