New reporting requirement for Real Property Transfer

As of July 1 2016 all state and territory revenue collection agencies will be collecting and required to report to the Australian Taxation Office (ATO) information about all transfers of freehold or leasehold interests in real property. Transfers of real property may...

How to Make Sure you are getting paid as a Contractor

If you are working as a builder or independent contractor you will have negotiated a fee for your services and this will form part of your contract. While operating under a contract allows certain level of freedom it is important you are aware of when your contract...

Plan now for the Government’s superannuation changes

Whilst most of the changes to the superannuation legislation, proposed in the recent Federal Budget, take effect from 1 July 2017, it would be prudent to review their impact on your retirement strategy now. Are you 49 and over?  The tax deductible superannuation...

Tax Incentives for Investment in Innovation

The Tax Laws Amendment (Tax Incentives for Innovation) Bill 2016, received Royal Assent on 5 May 2016. It contains tax incentives to implement the Government’s “National Innovation and Science Agenda” by supporting innovation in Australian culture. It aims to support...

Income Tax Rates

All Australian residents and entities must meet their tax obligations. Australian residents are required to pay tax on worldwide income. Whereas foreign residents are required to pay income tax on all income that has its source in Australia. Below are the tax rates...