The Government and Labor have agreed to bring forward planned small business tax cuts; reductions in the corporate tax rate and small business offset have also been accelerated
Whilst all the fun and festivities for Christmas are in complete overdrive, there needs to be a time where you need to become the business Grinch and consider whether your Christmas party is tax deductible.
The Australian Taxation Office (ATO) reminds taxpayers that they need to lodge a return for any financial year they exceed the non-concessional contributions cap, and may have to pay extra tax.
The First Home Super Saver Scheme (FHSS) allows individuals to make voluntary contributions into the superannuation system on or after 1 July 2017, and withdraw those contributions (up to certain limits) for the purpose of purchasing their first home. Eligible individuals can then apply to access the FHSS scheme from 1 July 2018.
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