At 7:30pm tonight, Wayne Swan delivered his 2nd budget with a forecast budget deficit of $57.6 Billion for 2009-10. The objective of this budget is to support jobs today by investing in the infrastructure Australia needs tomorrow. Unemployment is expected to reach 8.5% and the economy is expected to contract by 0.5% in 2009-10. Some of the changes announced include extension… Continue Reading
Author Archives: Catalyst Financial
Tax Bonus Payment
The government today announced five key $900 one-off payments to assist in strengthening the Australian economy during a severe global recession. The three most relevant bonuses are: Tax Bonus for Working Australians This bonus is payable to Australian resident taxpayers who paid tax for the year ended 30 June 2008, after taking into account tax… Continue Reading
Cash Is King
Cash flow is one of the most important drivers in a business. Businesses require cash flow to grow, to buy new stock in order to generate future sales, to pay expenses, to buy assets, and to distribute profits to the owners. In the current financial environment, banks are no longer lending cash easily and, therefore,… Continue Reading
Property Investment & Trusts
One of the benefits of a negatively geared property investment is the ability to deduct the losses incurred against other income. For this reason many investors register property investments in their individual names. Although this achieves their tax objective it does not provide tax flexibility nor asset protection objectives, which are available in a trust… Continue Reading
2008 Federal Budget
At 7:30pm tonight, Wayne Swan delivered his 1st budget with a forecast budget surplus of $21.7 Billion for 2008-09. Some of the main tax changes of the treasurer’s budget include changes to income tax for individuals, the child care tax offset, the baby bonus, the family tax benefit part B, and the 1% Medicare levy… Continue Reading
Superannuation Update
The changes to superannuation announced in the 2006 federal budget have been legislation and commenced on 1 July 2007. Some of the opportunities and changes to superannuation are summarised below: Superannuation Opportunities Taxpayers who are 60 and over can convert taxable salary into a tax free pension payment from their superannuation funds; Taxpayers who are… Continue Reading
Living Away From Home Allowance (LAFHA)
The Fringe Benefits Tax Assessment Act contains concessions which recognise that if employees are required to live away from their usual place of residence, they will incur additional expenses which are fundamentally private or domestic in nature. The law permits employers to pay a tax free benefit, known as LAFHA, to cover these additional expenses. A LAFHA is usually… Continue Reading
Relocation Benefits
The Fringe Benefits Tax Assessment Act 1986 (“FBTAA”) provides for substantial concessions where an employer pays for various costs associated with relocating an employee. These expenses can be met directly by the employer or passed on to the employee as part of a salary sacrifice arrangement. These concessions are available only if an employee relocates… Continue Reading
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- Payday Superannuation: What Employers Need to Know
- 2026 Federal Government Budget
- Changes to deductibility of ATO interest charges
- 2025 Federal Government Budget
- 2024 Federal Government Budget
- 2023 Federal Government Budget
- Revised method for claiming working from home expenses
- October 2022 Federal Budget
- 2022 Federal Government Budget
- Professional firms – ATO compliance approach to allocation of profits
- NSW 2022 COVID-19 Business support
- NSW 2021 COVID-19 Micro-Business Grant
- NSW 2021 COVID-19 JobSaver Payment
- NSW 2021 COVID-19 Business Grant
- Greater Sydney COVID-19 Lockdown – What Government Support is Available?
- Be aware and get ready for the upcoming increases to superannuation guarantee payments!
- The COVID-19 tax relief measures and support available for your 2021 tax returns!
- Government Grants Currently Available!
- 2021 Federal Government Budget
- Utilising taxable losses against prior year profits!
- The Benefits of Annual Tax Planning
- Xero Updates – March 2021
- Setting sales targets in uncertain times
- New wages subsidy for employers of apprentices and trainees
- Is your SMSF breaching NALI rules unknowingly?
- 2020 Federal Government Budget
- Jobkeeper – Nominate Additional Employees
- New options for claiming home office expenses during COVID-19
- COVID-19 effects on rental property owners
- Risks involved in consolidating super
- JobKeeper Payment: Eligibility Tests Clarified!
- NSW Government’s Economic Stimulus Package
- Rent relief for Businesses: The Commercial Tenancies Code of Conduct
- JobKeeker Payment – Government Clarifies Employer Eligibility
- JobKeeper Payment – The Next Round of Government Support!
- Second Government Coronavirus Rescue Package
- Government’s Response to Coronavirus Outbreak
- The Super Guarantee Opt-out is In!
- Going, going, gone! Main Residence Exemption removed for Foreign Residents
- The Crowdfunding Craze – Implications for Promoters and Contributors
- An Update from the 2020 Xero Roadshow
- Tis the Season! Tax implications of Christmas festivities
- Land Tax or Land mine? Changes to NSW stamp duty and land tax for discretionary trusts
- $10,000 cash payment limit expected to take effect from 1 January 2020
- Superannuation Guarantee Amnesty legislation re-introduced
- GST on Imports – Are you optimising your Cash Flow?
- ForPurposeCo. – The epitome of social enterprise!
- “Where’s my refund?” and other questions about your 2019 Tax Return
- ABN registrations under scrutiny: does yours stack up?
- To SMSF, or not to SMSF?
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