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Category Archives: Law
Bill introduced: instant asset write-off, simplified depreciation, and superannuation
The Tax Laws Amendment (Stronger, Fairer, Simpler and Other Measures) Bill 2011 has been introduced in the House of Representatives. It includes the following amendments: increase the small business instant asset write-off threshold from $1000 to $6500, and consolidate the … Continue reading
Reforms to the charity and not-for-profit (NFP) sector
The Assistant Treasurer, Bill Shorten, has announced that the Australian Government will “shortly release a discussion paper that seeks to elicit the diversity of community views” as part of the reforms to the charity and not-for-profit (NFP) sector announced in … Continue reading
Standard tax deduction – draft legislation
The Australian Government has released for comment exposure draft legislation and explanatory material regarding the Federal Budget 2010–11 proposal to provide individual taxpayers with a standard tax deduction. The draft legislation proposes a standard deduction of $500 for 2012–13, rising … Continue reading
