Epoch News

Low and middle income tax offset extended Date of effectFrom 1 July 2021 to 30 June 2022 As widely predicted, the Low and Middle Income Tax Offset (LMITO) will be extended for another year. The LMITO provides a reduction in tax of up to $1,080 for individuals with a...

The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. Key initiatives include: Extension of temporary full expensing and loss-carry back providing immediate...

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.  Typically, granny flat arrangements occur when an older person transfers some sort of...

Australia is facing a shortage of skilled labour. When the supply of staff dry up the focus often turns to retention. But the first step is to understand why people you want to stay, choose to move on? Very few people will reveal the whole truth about why they leave...

Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers. ASIC does not currently verify the identity of directors and Elvis Presley and Bob...

The ATO has clarified the tax treatment of JobKeeper payments handed back to the Government.

Changes from 1 July 2021 will impact how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.

Is the Government’s JobMaker scheme too complex? Since registrations opened on 1 February, JobMaker has created just 609 new jobs, despite around 15,000 businesses registering their interest.

We all know working longer hours doesn’t necessarily make us more productive.

Here’s a look at the latest research which suggests the pandemic has widened the productivity gap between the top performing companies and others.