Federal Budget

2022-2023 Budget Measures That Are Now Law

By Warren Kruger / April 1, 2022 / 0 Comments

Low and Middle Income Tax Offset A measure that will no doubt be beneficial for individual taxpayers is the increase in the Low and Middle Income Tax Offset (‘LMITO’) for the 2022 income year by $420.  The LMITO is a tax offset which reduces an individual taxpayer’s tax liability. This means that the maximum amount […]

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Federal Budget 2018 – 2019 : Tax Changes for Individuals

By Warren Kruger / March 22, 2019 / 0 Comments

| | | The Australian Government introduced new tax measures in the 2018 – 2019 Federal Budget as part of their Personal Income Tax Plan to help Australian Taxpayers by providing them with some ongoing & gradual tax relief. As a reminder, here are some changes the Australian Government have made which will affect your […]

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Federal Budget Announcement

Federal Budget 2018 – 2019

By Warren Kruger / May 10, 2018 / 0 Comments

Federal Budget Summary The item that may receive the most analysis from the whole of this year’s federal budget will be the incnrease of the 32.5% tax bracket, and an expansion of the Low Income Tax Offset.  A win for small businesses in this year’s budget sees the retention of the $2o,000 instant asset write-off […]

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Federal Budget Announcement

Federal Budget 2017 – 2018

By Warren Kruger / May 12, 2017 / 0 Comments

Federal Budget Summary The Budget announcements contain a suite of tax and superannuation measures aimed at increasing housing stock and improving house affordability. While the government has not gone close to clamping down on the political and social hot potato of negative gearing, it has taken some steps to restrict the travel expense and depreciation […]

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