Quarterly Tax Matters Newsletter

Tax Matters Budget Edition 15

This Edition of the Tax Matters newsletter covers the following issues. Click on the link to read more detail.                                             

1. Personal tax measures - Whilst there were no significant taxation proposals in this year's Budget, the Government has made some relatively conservative changes to FBT exemption and employee share schemes.
   
   
2. Budget focus on stimulating small business activity - The Budget has introduced a number of measures for small businesses designed to revive investment and support entrepreneurship and startups. 
   
   
3. R & D and other incentives -The Budget has announced it will cut the corporate tax rate by 1.5 per cent for small businesses with an annual turnover less than $2 million.
   
   
4. Property damage considerations for investors - There is nothing more tedious for rental property owners than dealing with the tax implications of damaged property.
   
   
5. CGT issues for the granny flat - Due to rising house prices, the humble granny flat has become a popular investment property strategy for homeowners and investors seeking to maximise returns on existing properties.
   
   
6. Budget outlook for individuals and families - The 2015 Budget made sweeping changes for individual taxpayers and families with its focus on improving the economy.
   
   
7. Power to amend fraud and evasion - The Commissioner of Taxation has been granted power to modify the time limit for assessments and testing of fraud and evasion, which normally varies between two and four years.

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