Tag: Tax System

Instant Asset Write-Off Extended, Threshold Increased up to $25,000

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Australia’s Prime Minister Scott Morrison recently announced that the instant asset write-off would be extended to June 30 next year and that the threshold would be increased to $25,000. These changes took effect from January 29, according to the Australian Taxation Office. “This will enable over three million small businesses across…

ALP Propose Franking Credit Changes

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Labour has announced plans to restrict certain existing tax exceptions for investors, if they were to win the coming elections. The party argues that the existing rebates and incentives – including those on capital gains, negative gearing, and franking credits – lead to tax avoidance. All of these proposed tax…