Tax time 2012 is rapidly approaching and you know what that means… getting together all your receipts, sorting them into piles, then give up and go do something that you want to do. Then before you know it the tax return lodgement deadline is here and you do one...
The Parliamentary Joint Committee on Corporations and Financial Services has released its report into the collapse of Trio Capital. The Committee said the collapse was the “largest superannuation fraud in Australian history” and noted the $176m in...
Education Tax Refund – no longer exists. The government has removed this initiative retrospectively and replaced it with the School Kids Bonus. The good news is that you no longer need to spend money and keep receipts for school items in order to be reimbursed 50% of...
INDIVIDUALS: Schoolkids Bonus to replace Education Tax Offset From 1 January 2013, families will receive the Schoolkids Bonus cash payment worth $410 for each child in primary school and $820 for each child in high school each year. The new automatic payment will...
With the recent talk in Australia of “taxing the rich” (itself an echo of current sentiment in the U.S), I urge everyone to watch an informative presentation by Tony Robbins titled “The National Debt and Federal Budget Deficit Deconstructed”. Here is the link: The...
The Treasurer with his 2012 Budget introduced a new concept that has some merit, albeit with severe limitations, called the ‘business tax loss carry back’. For some context, before this was introduced, businesses could only carry forward tax losses and use them to...
