Removal of excess Franking Credits – A tax grab and nothing less Several months ago we wrote a piece on Labor’s plans to remove the refunding of excess franking credits of all taxpayers, including superfunds. We said back then that the policy was flawed and merely a tax grab. The opposition has pitched this change...
Changes to deductions for payments to workers From 1 July 2019, the rules for claiming deductions for payments to employees and contractors are changing. You can only claim deductions for payments made to employees and contractors where you have met the pay as you go (PAYG) withholding obligation for that payment. So what are...
What do your children and the $ 30,000 instant tax write off have in common? Firstly let’s start with this fact. It’ll come as no surprise that children get more expensive with age. AMP reported last year that the average cost of raising a child between the ages of 5-9 was estimated at $212...
What happens after March 2021 We have all discussed it at the dinner table……What happens once JobKeeper finishes? The one thing we can say with certainty is that nobody really knows. When the pandemic hit us in March 2020 you had experts predicting doom. Honestly, you couldn’t blame them for thinking that. We simply...