Each year Pitcher Partners undertakes an in-depth analysis of the implications of the Federal Budget for middle-market businesses. These insights were presented and discussed with more than 500 business owners, directors and managers at a series of Budget events held around the country last week.
The Treasurer has announced a number of measures that will have a positive impact on businesses in regional Victoria, with reductions to transfer duty for commercial and industrial properties and a further reduction in the regional payroll tax rate.
The Government has again announced superannuation changes in this year’s Budget, which are broadly positive in nature and aimed at increasing contribution opportunities for individuals between the ages of 65 and 74.
The Government has announced an expansion of the instant asset write-off threshold from $25,000 to $30,000, with medium-sized businesses (with a turnover of up to $50m) now also qualifying. Further, additional funding of $60 million will be provided over three years for small and medium enterprises to support Australian exports.
One of the most common fringe benefits provided to employees is the use of a vehicle such as a utility or a van.
Property remains a target for consideration with the ATO, and there is increasing engagement of people from all walks of life in “property plays” that often involve some level of improvement, if not complete development. With the real estate markets in Sydney and Melbourne experiencing sustained growth in residential property values, almost every owner has […]
The Victorian Government has announced significant changes to the off-the-plan (OTP) stamp duty concession. These changes will increase the stamp duty cost to property investors and some home buyers. What is the existing OTP concession? The existing OTP concession applies to all properties that are purchased off-the-plan, including residential and commercial properties. The concession reduces […]
The new CRS regime is likely to apply to Australian managed investment schemes and investment entities of family offices from 1 July 2017. Understanding your obligations now is therefore critical. Overview From 1 July 2017, Australian Financial Institutions will need to start applying the Common Reporting Standard (“CRS”) in Australia. The CRS is very similar […]
With more and more businesses having websites, the taxation treatment of the costs associated with building and maintaining those websites is an important topic.
Whether speaking to clients or simply to people at a barbecue, I still find myself regularly asked the question, “is Airbnb a problem for me or my tax?” I usually respond with, “no, not really as long as you know what you’re doing … are you doing it? Does it work for you?” This counter-question […]
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