This month’s tax update looks at the budget announcements which are now law, as well as the ATO’s increased focus on rental deductions. We also outline some of the ALP policies on tax and superannuation in the lead up to the Australian Federal Election.
Purchasing digital products such as movies, music, podcasts, e-books and more, is something that we all now do regularly. It’s important to consider that these purchases will potentially be subject to GST.
Estate planning seeks to not only distribute the assets of your estate but do so in a way that protects the estate, addresses issues within the estate, and fulfils your wishes. Contact us today to start your estate planning.
The Fringe Benefits Tax (FBT) year has ended with some hot issues targeted by the ATO. In this year’s updated ATO ‘hit list’, “What attracts our attention”, there are six items that specifically relate to FBT.
The 2019-20 Budget has seen a boost of $60m for the Export Market Development Grant Scheme (EMDG). The EMDG Scheme is a financial assistance program for small and medium-sized businesses with a turnover of less than $50m that are exporters or aspiring exporters. It offers to reimburse up to 50% of eligible export marketing and promotion expenses above $5,000.