The ‘nip and tuck’ budget The 2011/2012 Federal Budget was a ‘nip and tuck’ Budget. Click Here to Download the full Knowledge Shop 2011/2012 Budget update According to Lisa Armstrong, General Manager of the Knowledge Shop, Many of the changes were either because of or justified by the need to improve the workforce participation rate [...]

The Australian Taxation Office (ATO) has obtained data from state and territory motor vehicle registering bodies and will match against taxpayer records. This is to identify those participating in the cash economy by not declaring income to deliberately avoid their tax obligations. Data will be obtained for all motor vehicles where the transfer and/or market [...]

On Sunday 2 May, the government publicly released the Henry tax review and its initial response. Although the Henry tax review contains recommendations to reform Australia’s tax system, the government has initially focused on the resources sector and superannuation. The company tax rate is also to be reduced and there are some benefits for small [...]

Paul Drum FCPA 19 April 2010 As we continue our ‘Henry countdown’, I thought I’d share with you some of the important issues expected to be canvassed in the upcoming Henry Report: lower taxes on capital income (including interest) and also a more consistent treatment of different forms of saving imputation system expected to be [...]

Changes to the tax treatment of shares and rights acquired under employee share schemes (ESS) were announced in the 2009–10 Budget and became law on 14 December 2009. An ESS is a scheme under which shares, stapled securities, rights to shares or rights to stapled securities (ESS interests) in a company are provided to an [...]