Tax

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

more from tax

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

Tax

CGT exemptions set to apply to granny flat arrangements

Australian families looking to care for elderly parents through granny flat arrangements will now be granted a capital...

06 October 2020 • By Jotham Lian

Tax

Income tax cuts tipped to be brought forward, backdated

Legislated income tax cuts are tipped to be backdated and waved through Parliament once the government delivers its...

06 October 2020 • By Reporter

Tax

Loss carry-back tax offset gains accounting stamp of approval

The proposed reintroduction of a loss carry-back scheme will help cash-strapped businesses get through rocky economic...

02 October 2020 • By Jotham Lian