Contact Details

IGnite Accountants & Financial Services
Level 1, Suite 3

14 Sydney Road
Manly NSW 2095

Phone: (02) 8005 0380

TA 25191303

2050064

©2016 by IGnite Accountants & Financial Services. 

3338

July 23, 2018

Employers that have fallen behind with their superannuation guarantee (SG) obligations will have 12 months to “self-correct” under a new amnesty announced late last month.

The ATO estimates that $2.85 billion is currently owed in late or missing SG payments. Running fro...

July 23, 2018

Donate - If you are going to donate to charity, now is the time. Any donations you make to deductible gift recipients can be deducted this year. Remember, if you received something in return for the money, like goods purchased at a charity auction, you may not be able...

July 23, 2018

Individuals

Personal tax bracket changes - The top threshold of the 32.5% personal income tax bracket will increase from $87,000 to $90,000*.

Introduction of the Low and Middle Income Tax Offset* providing a tax offset for those with taxable income of up to $125,333.

GST...

July 23, 2018

Dividends are paid out of profits which have already been subject to Australian company tax which is currently 30% (or 27.5% for small business at time of writing). This means that shareholders receive a rebate for the tax paid by the company on profits distributed as...

July 1, 2018

Shares and capital gains

The ATO is datamatching share transaction data against gains declared by individuals in their tax return. The datamatching program has been around since 2006 and tracks share transaction details from 1985 onwards (when the capital gains tax regi...

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