On 6 November 2013, the Treasurer Joe Hockey announced that the Government will address a large number of unlegislated tax and superannuation related announcements. These have been accumulating since 2001 and at the time of the Federal Election there were 96 unenacted announcements which have been causing a great deal of uncertainty for all potenti...
Pre-election Announcement Newsletter
3 Sept 2013
As we all prepare to cast our vote this Saturday 7 September in the 2013 Federal Election and no doubt looking forward to the end of the extraordinarily long pre-election campaign, it is worth considering the potential tax related outcomes of the Election.
Summary of superannuation changes for employers
26 June 2013
The following measures, which we have covered in detail in our previous newsletters, will commence from 1 July 2013.
Federal Budget Bulletin May 2013
16 May 2013
The Federal Treasurer handed down his sixth Budget last night. The Budget was framed in the context of a $19.4b deficit for 2012/2013 (as against an originally projected $1.5b surplus) and a Federal election to be held in September. The Budget is designed to support the big ticket reform items of the Rudd/Gillard years being the completion of the N...
Superannuation Bulletin April 2013
9 Apr 2013
On Friday 5 April the Government announced the long awaited superannuation reforms which have been subject to much speculation leading up to the Federal Budget in May. Broadly, the reforms are aiming to remove the concessions available to taxpayers with significant superannuation balances. Together with the change announced in last year’s Federal B...
What's YOUR risk profile?
31 Oct 2012
The ATO recently released, for the first time, an overview of its approach to assessing the tax compliance risk profile of small-to-medium enterprises (SMEs) and wealthy individuals. The ATO defines these as follows:
Superannuation Updates
26 June 2012
Are you receiving a pension from your SMSF? Consider Minimum Pension Payments.
Federal Budget 2012/2013
11 May 2012
The Treasurer, Mr Wayne Swan, handed down the controversial 2012/2013 Federal Budget on 8 May 2012. The much vaunted promise to return the budget to surplus has been the key driver behind the changes which are expected to achieve a very slim $1.5 billion surplus for 2012/2013. Considering that the Government is currently in a position of approximat...
Changes to superannuation
28 Mar 2012
As a result of the Minerals Resource Rent Tax being passed by both Houses, the following complementary measures will also come into effect from 1 July 2013:
Mid-year economic and fiscal outlook (MYEFO) 2011/2012
16 Dec 2011
The 2011-12 MYEFO released on 29 November forecasts solid economic growth, low debt and a return to surplus in 2012-13, according to the Federal Treasurer.