Rambling weekly round up

I just got asked what happened in tax last week that a practitioner should know about. How about: – Instant asset write off for small businesses back to $1,000 from 1 January 2014. And the $5,000 immediate depreciation for cars goes from the same date as well. – If you want to get a remission […]

Income Tax Legislation

Immediate Asset Write Off

I keep getting asked about the start date of the immediate asset write off reduction from $6.5k to $1k. People ask this because the first mining tax repeal bill had this measure applying from 1 January 2014 – but the bill was defeated in the Senate… But now some more clarity. In the MINERALS RESOURCE […]

Funny Stuff Legislation Tax Policy

$9 billion tax exempt entity…

I was going to complain about how sporting entities are tax exempt – at least some are tax exempt. I was going to compare cinemas to the AFL and wonder why one pays tax and one does not on its profits? I was going to wonder how having clauses in its governing document saying no […]

Tax Policy

Canberra “policy” experts…

Back in 2008 I sat in on numerous meeting of policy “experts”, not tax or housing “experts”, on the set up of first home saver accounts. This was the previous government’s answer to the “housing affordability crisis” – an account you can save for your first home with concessional tax rates on the interest (what […]