Personal income tax measures Limiting plant and equipment depreciation deductions to outlays actually incurred by investors – for residential investment properties acquired from Budget night on 9 May 2017 From 1 July 2017, the Government will limit plant and equipment depreciation deductions to outlays actually incurred by investors in residential properties. Plant and equipment items… [Read More]
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Super Changes on 1 July 2017
Changes made to Australia’s superannuation system announced in the 2016 Federal Budget will take effect from 1 July 2017. The reforms have significantly change the landscape for retirement savings, affecting both pre-retirees and retirees. Below is an overview of the new rules coming into play from 1 July onwards: $1.6 million transfer balance cap The… [Read More]
End of Financial Year – what you need to know
With the end of another Financial Year fast approaching – here a few things to consider to maximize your planning for the year end. Capital Losses Selling poor performing assets may enable you to bring forward a tax loss that can be offset against any capital gains made throughout the financial year. Write off Bad… [Read More]
