Are you receiving a pension from your SMSF? Consider Minimum Pension Payments.

From 28 May 2012, a new online national business name register managed by the Australian Securities and Investment Commission (ASIC) replaced the state and territory registers.

From 1 July 2012, the following marginal income tax rates will apply for the 2013 and 2014 income years for resident taxpayers:

As explained in our March 2012 newsletter, the changes to the PHI rebate mean that those taxpayers who earn more than $84,000 for singles or $168,000 for families, will be entitled to a reduced or no PHI rebate from 1 July 2012, depending on what income tier they fall into.

The Treasurer, Mr Wayne Swan, handed down the controversial 2012/2013 Federal Budget on 8 May 2012. The much vaunted promise to return the budget to surplus has been the key driver behind the changes which are expected to achieve a very slim $1.5 billion surplus for 2012/2013. Considering that the Government is currently in a position of approximat...

The widely debated changes to the Medicare levy surcharge (MLS) and the private health insurance rebate became law in February and will apply from 1 July 2012. The new rules are based on a three tier system, as follows.

The new Personal Property Securities Register ('PPSR') became live and operational on 30 January 2012 as foreshadowed in our December newsletter.

As the 2012 FBT year comes to the end on 31 March, it is now essential to ensure that you are ready to discharge your FBT obligations. Most importantly, the following information needs to be completed and available for the preparation of your 2012 FBT returns and also to keep in mind for future FBT years:

The legislation increasing the immediate asset write off threshold for small business from $1,000 to $6,500 has recently passed both houses. It will come into effect from 1 July 2012 and will allow small businesses to write off depreciating assets costing less than $6,500 n the year in which they start using the asset or have it installed ready for...

The introduction of the carbon tax on 1 July 2012 will also bring with it the reduction in fuel tax credits for businesses, unless the fuel is acquired and used in: