How the assets test will work in 2017 could increase your Age Pension entitlements, or take some or all of them away. With revisions to the Age Pension assets test just, it’s important to understand how the changes could impact you, particularly with part-pension thresholds somewhat tighter than initially projected. These thresholds are the value […]
From 1 January 2017, tax rates will change for working holiday makers who are in Australia on a 417 or 462 visa. These rates are known as working holiday maker tax rates.
Following extensive consultation, the government has announced the following revisions to the superannuation changes announced in the 2016/17 Budget: The $500000 lifetime non-concessional cap will be replaced by a new measure to reduce the existing annual non-concessional contributions cap from $180000 per year to $100000 per year (note that individuals aged under 65 will continue […]
From July 1, 2017, online sellers with an Australian turnover of more than $75,000 are no longer exempt from registering for, collecting and remitting 10 % GST for low value goods. This measure was legislated in May of this year. As outlined in the budget papers, this measure is expected to have a $300 million […]
The Government has announced that from 1 July 2016, for individual taxpayers, the marginal tax rate of 37 per cent will start at $87,000 instead of the current $80,000. To benefit from this change your taxable income must be more than $80,000. The personal income tax relief changes take effect from 1 July 2016 and […]