Before venturing out and renting all or part of your residential property for income producing purposes, know the tax implications beforehand.
Before venturing out and renting all or part of your residential property for income producing purposes, know the tax implications beforehand.
Unfortunately, you have read that right! Scammers have replicated the myGov website in an attempt to defraud unsuspecting citizens. The scam begins with a phishing email that appears to be sent by Medicare. The email requests you update your Electronic Funds Transfer (EFT) details in order to receive Medicare payments for benefits and claims. The email provides a link to the identical website and feeds any and all details entered straight back to the criminals.
The compulsory HECS-HELP repayment threshold has been reduced by the Government from $55,874 down to $51,957, as of the 2018-19FY. This means that you will have to start contributing to your HECS-HELP Debt earlier. Be sure to inform your employer of your education costs, to allow for the correct tax to be withheld.
The $20,000 instant asset write-off for small business has been extended for another 12 months till the 30 June 2019.
Concessional Contribution – pre-tax contributions
See how the changes affect individuals below.
