Federal Budget Summary 2019-20

Budget 2019-20 Highlights & Key Points This is a Budget not only designed to showcase the return to surplus (and by default the Government’s economic credentials) but engage voters with initiatives to make them feel like they are more prosperous. A massive infrastructure spend adds to this sentiment and the Government has stated that it…

Superannuation Budget changes

1 July changes

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…

news

In the news

Definition of an SMSF to change The Government has announced that the maximum number of members an SMSF can have will increase from four to six. At present, under section 17A of the SIS Act, to meet the definition of an SMSF the fund must have 4 members or less. There is a long way…

Young businessman standing over a young businesswoman sleeping on a couch --- Image by © Royalty-Free/Corbis

What’s changing in 2018?

What’s on the cards for 2018?  We highlight major changes for 2 financial-year milestones – Jan and July – most of which we covered in 2017.  Take a moment to refamiliarise, especially the 10 major changes that kick off from July 2018. 1 January 2018 Vacancy fees for foreign acquisitions of residential land. An annual…