News Archives

The new financial year is underway and rolling out many of the changes announced in the May Federal Budget. In this client update, we're exploring what changed 1 July, and who is getting a tax cut.

We also explore the one-off Super Guarantee Amnesty, who needs to collect GST when selling a property, and the rollout of the Single Touch Payroll reporting.

As always, if you have any queries, contact our team on 9957 4033.

	What's changing on 1 July? July 1 heralds in a number of changes for individuals, businesses, and superannuation. Are you ready?
	Who gets a tax cut from 1 July? Australian taxpayers will see a change in their pay-packets as the first measures of the Government's seven-year income tax plan starts from 1 July 2018.
	One-off Super Guarantee Amnesty Australian taxpayers will see a change in their pay-packets as the first measures of the Government's seven-year income tax plan starts from 1 July 2018.
	ATO crackdown on car expenses The ATO has announced that it will be closely examining claims for work-related car expenses in income tax returns for the 2017-18 year as part of its broader focus on work-related expenses. authorities.
	Single Touch Payroll Starts 1 July Single Touch Payroll starts from 1 July 2018, which changes the way that businesses report payment information about their employees to the Australian Tax Office.
	New GST obligations for property purchasers From 1 July 2018 purchases of new residential premises or newly subdivided residential lots will be required to pay the GST amount directly to the ATO rather than to the vendor.

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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.