Tax

Tax

Federal budget tax bill passes without amendments

The omnibus bill containing a raft of the federal budget’s tax measures has now been passed by both houses of...

09 October 2020 • By Jotham Lian

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Tax

Treasurer, ATO shed light on backdated tax cuts

Backdated income tax cuts are unlikely to flow until late this year, with the Tax Office also now clarifying its...

08 October 2020 • By Jotham Lian

Tax

Backdated income tax cuts confirmed

The widely expected income tax cuts will now be brought forward and backdated to 1 July 2020 as the government looks...

06 October 2020 • By Jotham Lian

Tax

Government commits $2bn to R&D tax incentive

The government has all but walked back on its contentious proposed cuts to the research and development tax incentive.

06 October 2020 • By Jotham Lian

Tax

‘Fantastic outcome’: Government clarifies corporate residency rules

Companies with significant economic connection to Australia will now be treated as an Australian tax resident under a...

06 October 2020 • By Jotham Lian

Tax

Loss carry-back provisions back on the table

Businesses that have suffered losses or will continue to be in a loss-making position for the next financial year will...

06 October 2020 • By Jotham Lian

Tax

$27bn ‘game changer’ business tax break announced

Over 99 per cent of businesses will now be able to fully expense eligible depreciable assets immediately, in what has...

06 October 2020 • By Jotham Lian

Tax

Government urged to raise tax offset cap for small-business owners

The small business tax discount should be increased, alongside sped-up income tax cuts and a loss carry-back scheme,...

06 October 2020 • By Jotham Lian