Economic Response to the Coronavirus This assistance will support businesses to manage cash flow challenges and help businesses retain their employees. These two measures are designed to support employing small and medium enterprises and to improve business confidence. In addition, the wage subsidy for apprentices and trainees will help to ensure the continued development of the skilled workforce that employers …
2020 Economic Stimulus Package
On 12.3.2020, the Federal Government announced a $17.6 billion economic plan to keep Australians in jobs, keep businesses in business and support households and the Australian economy as the world deals with the significant challenges posed by the spread of the coronavirus.
Issue 102 – Superannuation 2019
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Special End of Year Bonus 19
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Issue 101 – Tax Effective Shares and Property Investment Edition
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2018 – 2019 Best of Questions and Answers
Question 1 We are a building materials wholesales company. If we provide the company Ute to our sales rep. who need to carry the goods to customer from time to time, does it fall into the FBT? I don’t know the percentage of private use but from my understanding, at least driving between home and company will be the private …
Readers Most Popular Q & A 2018-2019
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Editor’s Letter
Welcome to the 14th edition ofbO2 Corporate Essentials simplified summary of the Australia Taxation System, our Annual Taxation Summary Manual 2020. Let’s face it. Tax is confusing! But don’t worry, we’re here to help! The year 2019 is marked by a number of significant events, many of which drastically changed our country’s political landscape; we’ll take a look at the basics of the …
09. Goods Services Tax (GST)
Goods and Services Tax (GST) was introduced on 1 July 2000, as a 10 per cent broad range indirect tax that replaced several other taxes such as wholesale sales tax. In addition to GST being introduced two other indirect taxes were introduced, being: Wine Equalisation Tax and Luxury Car Tax. It was thought that removing the wholesale sales tax and …
08. Capital Gains Tax (CGT)
Capital gains tax (CGT) is a tax on the realisation of an asset acquired after 19 September 1985. Capital gains apply when the realisation of the asset is not in the ordinary course of the taxpayer’s business. For example: the sale of a parcel of land by a property developer would be in the ordinary course of business and would …