June 2015

2015/16 Federal Budget Overview

Small business were front and centre in the 2015/16 federal budget. When handing down the changes on the 12th of May, Treasurer Joe Hockey stated, “Our future growth will come from growing small business into big business.”
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Small Business Measures

Covers budget changes for small business, including asset write off and accelerated depreciation, cut in corporate tax rate and employer subsidies for hiring workers under 30 and over 50. 
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Personal Taxation

Covers budget changes for personal taxation, including work related car expenses and the Medicare levy low income thresholds. 
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Other Budget Measures

Looks at other measures delivered in the 2015/16 budget, including the aged pension asset test thresholds, Family Tax Benefit and Paid Parental Leave changes.
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FBT Changes

Small businesses that supply their employees with portable devices, such as laptop computers and tablets, will no longer need to pay Fringe Benefits Tax (FBT) on either device. Previously, businesses may not have been able to obtain an FBT exemption on such devices.
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Keeping Track Of Your Business Growth

Serial entrepreneur Creel Price says, “In business you are either green and growing or you’re ripe and rotting”. In the digital age, if your business isn't going forward, it's actually going backwards. So how do you measure your business progress? 
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Tech Corner

In this edition of Tech Corner, we look at Spreecast, a simple way to have free, instant video, audio and text chat calls with up to 3 people simultaneously.
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ATO Issues Scam Warning

The ATO has issued several warnings recently regarding a number of scams targeting taxpayers.
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ATO Data Matching Targets

Excessive work-related expense claims and incorrect rental property deductions will be the focus of the ATO's data matching systems this tax season. The ATO has warned taxpayers falsely claiming deductions they are not entitled to should expect to be caught out and penalised.
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