Categories
Uncategorized

Fairfax just can’t get tax…

Here they go again… Labor drew up a comprehensive suite of tax measures, including increasing taxes on cigarettes, multinational firms, superannuation and investment housing. So according to a “senior economics writer for Fairfax Media”, a “comprehensive suite” of tax measures is: Increaing the excise on one product; Make a change to thin capitalisation safe harbours; […]

Categories
Uncategorized

Negative Gearing, the 50% discount and the ALP

Just a quick note on the ALP’s policy on removing negative gearing… The Opposition has announced they will limit negative gearing to new housing from 1 July 2017. From the announcement it appears the losses from negative geared properties that are not new properties will not be able to be offset against any salary and […]

Categories
Uncategorized

Its got nothing to do with tax but these numbers do my head in…

According to a recent report… You need to have wealth (house, car, super… Less debts) of $4,400AUD to be in the top 50% of the world’s adults by wealth.  To get in the top 10% of the world’s adults by wealth you need to have $94,000AUD in assets.  To be a part of the 1%, […]

Categories
Uncategorized

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 […]