Epoch News

If you missed the 30 November 2022 deadline for obtaining a Director ID, the Australian Business Registry Services have stated that they will not take action against directors that apply for their ID by 14 December 2022.  If you are required to but have...

It’s that time of year again - what to do for the Christmas party for the team, customers, gifts of appreciation, etc. Here are my top tips for ensuring your workplace Christmas season is generous and tax-effective. Tax & Christmas For GST-registered businesses...

Sportspeople, media personalities, celebrities, and 'insta' influencers beware. The ATO has taken a U-turn on how fame and image should be taxed. If you're famous and make an income from your fame and image, the way the ATO believes you should be taxed on your income...

Low-interest rates have been a mainstay since the global financial crisis of 2008. When the pandemic hit, Governments pushed stimulus measures through the economy, and central banks reduced interest rates even further. Coming out of COVID, housing market demand was...

The deadline for existing directors of Australian companies to obtain a Director Identification Number is 30 November 2022.  All directors of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Islander corporation...

There is nothing in this Budget that would create a UK style crisis. The stage 3 tax cuts legislated to commence on 1 July 2024 are not mentioned, and most funding initiatives appear to be a reallocation of previous Government initiatives. And, the commodity driven...

Change to taxation of off-market share buy-backs by listed companies From7:30pm AEDT, 25 October 2022 From Budget night, 7:30pm AEDT, 25 October 2022, the Government intends to align the tax treatment of off-market share buy-backs undertaken by listed public companies...

Child Care Subsidy increase From2022-23 As previously announced, the maximum Child Care Subsidy (CCS) rate will increase from 85% to 90% for families earning less than $80,000. Subsidy rates will then taper down one percentage point for each additional $5,000 in...

Removed Self-assessment of intangible assets Announced in the 2021-22 Budget and due to commence on 1 July 2023, the measure enabling taxpayers to self-assess the effective life of certain intangible assets, rather than being required to use the effective life...

Queensland has backed down on its previously announced Australia-wide land tax assessment. The State Government reversed course on an amendment that would have seen the land tax rate for investment property in Queensland assessed on the value of the investor’s...