Company Tax Cut

imgresThe Government announced, with effect from the 2015-16 income year (ie from 1 July 2015), a 1.5% cut in the company tax rate applying to small businesses (turnover less than $2m). That would reduce the tax rate applying to those businesses to 28.5%. 

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Budget 2015 Summary

On Tuesday night, the Treasurer Mr Hockey handed down the 2015-16 Federal Budget, his second Budget. The Budget Papers predict a deficit of $35bn next year, down to a $6.9bn deficit in another 3 years' time in 2018-19.

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SuperStream - Are You Ready?

Superstream2he Australian Taxation Office (ATO) is urging trustees of Self Managed Superannuation Funds (SMSFs) to be ready for the 30 June 2015 deadline for SuperStream. From 1 July 2015 employers with 19 or fewer employees, will start sending SuperStream contributions electronically to all superannuation funds, including SMSFs.

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