Research shows that Australians are wealthier now than ever before. But wealth is not the same as prosperity, and according to the 2017 Prosperity Index, Australia is sliding down the global prosperity rankings.
The official interest rate remains at the record low of 1.5% for the 12th month straight following the RBA meeting today.
Every so often the Australian Taxation Office (ATO) sends a warning out to taxpayers indicating where their gaze is focused. Last month in a speech to the National Press Club, Tax Commissioner Chris Jordan did exactly that.
Australia has landed two cities inside the top 20 global rankings of a cities ability to attract and foster growth of high-potential female entrepreneurs. The 8th annual Dell Women Entrepreneur Cities Index, announced Monday in San Francisco, revealed Sydney is the 11th best place in the world to base yourself and Melbourne as the 17th.
Imported goods below AU$1,000 are not currently subject to Australian import GST, however, the Australian Government announced in the 2016-17 Budget that from 1 July 2017, GST would be applied to imports of goods under AU$1,000 made by Australian consumers. This has now been postponed until 1 July 2018.
The new financial year has begun, so here are a few important dates for business owners to remember for income tax returns, employees and GST.
As a small business owner you can often fall into old habits at tax time and not consider some of the less obvious or new ATO tax deductions available. With 7 day's to June 30 here are 7 commonly overlooked tax deductions that could help your business become smarter and sharper every financial year!
The wide-ranging superannuation reforms come into effect on 1 July 2017. With the changes come a series of issues that Trustees need to be across, even if they don’t immediately affect you or your fund including: Understand the value of assets at 30 June, self funded retirees – avoiding adverse tax outcomes and how should you value SMSF assets.
The answer is quite a lot but it takes planning pre 30 June. Here are our top tips including: Timing is everything, accelerate deductions, delay income – one off opportunity for high-income earners, money or debts owed to private companies and house-keeping for business.
The problems that any Australian Government is expected to resolve and the wish list they are supposed to fulfil, is extensive regardless of which party is in power. This Budget delivers a series of measures to attempt to please as many people as possible.
