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TaxWise® news - Budget edition 2018-19

Author: The Tax Institute

Published Date: 2 May 2018

 

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This issue of Taxwise covers:

  • phased reform of personal income tax relief for low and middle-income earners
  • change to personal income brackets
  • new low and middle-income tax offset introduced
  • no Medicare levy increase “ stays at 2%
  • additional funding being allocated to the ATO for compliance enforcement “ which may mean targeting work-related expenses
  • small business $20,000 instant asset write-off extended
  • black economy and illegal phoenixing activities targeted through increase in ATO funding
  • overhaul of the research and development (R&D) tax incentive.
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  • Published By:The Tax Institute
  • Published On:2 May 2018

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

The Tax Institute
(ABN 45 008 392 372 (PRV14016))

("TTI")

The Tax Institute is a Recognised Tax Agent Association (RTAA) under the Tax Agent Services Regulations 2009. 

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