Category: Income Tax

About time someone acknowledged accountants!!!!! Wow. I have been saying the things pointed out in the article below for the last 3 months. I think accountants have been the forgotten profession in all this since the whole system is reliant on accountants and tax agents to make the government incentives work. What annoys me the…

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$20,000 immediate write-off for small business

  The government has extended the concession for small businesses with an aggregated annual turnover of less than $10 million until 30th June 2018 for this incentive. This means that small businesses we be able to immediately deduct purchases of eligible assets costing less than $20,000 first used or installed ready for use by 30…

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Tax tables

Like to know your tax rates? Please find in this blog the Australian 2016/2017 Tax Rates and Table. Taxable Income                     Tax on Income  $0 – $18,200                         Nil  $18,201 – $37,000                19c for each $1 over $18,200  $37,001 – $87,000                $3,572 plus 32.5c for each $1…

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