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Australian Tax Office Updates

Income tax concessions

Income tax concessions

There are four income tax concessions. Simplified depreciation rules In the 2015 Budget, the Government announced its intention to allow small businesses with an aggregate turnover of less than $2 million to immediately deduct assets they start...

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ATO Reminder EFT Refunds

ATO Reminder EFT Refunds

ATO Reminder EFT Refunds The ATO has reminded tax agents that the fastest and most secure way for clients to receive their refund is to have it paid directly into a nominated Australian bank account using electronic funds transfer (EFT). From 1...

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New and ‘improved’ ATO website

New and ‘improved’ ATO website

New and ‘improved’ ATO website Editor: Many of you have probably noticed that the ATO has ‘updated’ its website. It has been unimpressive, to say the least, with previous links and search functions not working, individual...

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ATO Recommends Lodge Your Returns Early

ATO Recommends Lodge Your Returns Early

ATO Recommends Lodge Your Returns Early The ATO has advised that, as in previous years, they will become quite busy over the coming 3 months. As a result, they recommend that you organise to get your returns processed early to reduce the...

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ACNC Revokes Status off 392 Charities

ACNC Revokes Status off 392 Charities

ACNC Revokes Status off 392 Charities The Australian Charities and Not-for-profits Commission (ACNC) continues to ‘clean-up’ the national Charity Regiser, today revoking the charity status of 392 charities that the regulator believes are no...

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Check a financial adviser

Check a financial adviser

Check a financial adviser ASIC currently maintains a register with an Australian Financial Services Licence as a register of authorised representatives. This register advises on people who can  provide personal advice on investments...

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Pension deeming rates to be lowered

Pension deeming rates to be lowered

Pension deeming rates to be lowered The social security deeming rates* will be lowered from 20 March 2015 as follows: the ‘lower deeming rate’ will decrease from 2% to 1.75% for financial investments up to $48,000 for single...

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