Important Tax Changes Post 2016 Federal Election

By Michael Fox on 26/9/2016 in Individual tax returns, Business tax returns, GST, Non-resident taxation, Self-managed funds, Superannuation

Most individual returns will be due to be lodged by the end of next month, unless you are represented by a registered tax agent like myself. If you are not currently on my list, I will need to add you by 31 October to ensure that your return can be lodged in 2017. from 1 July 2017, the annual non-concessional (after tax or personal) super contribution will reduce from $18...

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Overview of the 2016 Federal Budget

By Michael Fox on 23/5/2016 in Resale royalties, Valuation, Company tax, Federal budget, Family trusts, Innovation, Negative gearing, Artists, Super art, Superannuation, GST, Taxation of the arts industries

The government was elected in 2013 without an arts policy and it has run an almost full term without being able to enunciate one. In the Tony Abbott era, no direct tax measures for the arts were announced and the model of peer-reviewed grants funding, based on the 2002 Myer Report, endorsed by John Howard and supported by the Rudd-Gillard administrations, was overturned. T...

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Summary of announced tax changes in the 2015 Federal Budget

By Michael Fox on 15/5/2015 in Car expenses, Depreciation, GST, Small business, Capital gains tax, Superannuation

The Government has announced tax reductions for small businesses with an aggregated annual turnover below $2m regardless of entity type. For companies, the company tax rate will be reduced by 1.5% to 28.5%. Maximum franking credit rates for a distribution will remain unchanged at 30%. For taxpayers operating through an unincorporated business structure (partnerships, tr...

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Tax and the Digital Economy

By Michael Fox on 21/3/2017 in Rental income , GST, Capital gains tax, Artists

tax and the digital economy...

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Top 10 tax claims for artists and creative professionals

By Michael Fox on 24/6/2017 in Home office tax deductions, Individual tax returns, Business tax returns, Car expenses, GST, Depreciation, Artwork tax deduction, Artists

Top 10 tax claims for artists and creative professionals...

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