HAPPY NEW YEAR !!!
- Dec 29, 2015
- 1 min read
May this year be full of happiness, success and prosperity.
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BUDGET REVIEW: Measures impacting individuals
4.1 Introducing a Working Australians Tax Offset The Government will introduce a $250 Working Australians Tax Offset with effect from the 2028 income year. This new offset will provide a permanent annual tax offset for Australians for their income derived from work such as salary and wages and the business income of sole traders. 4.2 $1,000 Standard Deduction for Work-related Expenses The Government will introduce a standard tax deduction of up to $1,000 for work-related expe
BUDGET REVIEW: Reducing the FBT concession for electric cars
From 1 April 2029, a permanent 25% discount on FBT will be available for all electric cars valued up to and including the fuel-efficient luxury car tax threshold, implemented through a 15% rate in the statutory formula. The following transitional arrangements will apply: All eligible electric cars will retain the FBT discount rate that was in place when the arrangement commenced. All electric cars valued up to and including $75,000 that are provided before 1 April 2029 will c
BUDGET REVIEW: Reforming negative gearing for residential property investments
From 1 July 2027, losses from established residential properties will only be deductible against rental income or the capital gains from residential properties. Excess losses will be carried forward and are able to be offset against residential property income in future years. These changes will apply to established residential properties acquired from 7:30 PM (AEST) on 12 May 2026. Properties acquired prior to this time (including contracts entered into but not yet settled)
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