|In February 2017, the ATO released Draft Law Companion Guideline LCG 2017/D3. This Draft Guideline deals with the treatment of superannuation death benefit income streams under the $1.6 million pension transfer balance cap from 1 July 2017.
Where a superannuation interest is cashed to a dependant beneficiary in the form of a...
Business innovation includes the development or introduction of new or significantly improved goods, services, processes or methods. According to figures released by the Australian Bureau of Statistics (ABS), more than a quarter of innovative-active businesses (27%) have reported that a lack of access to additional funds is the main barrier to innovation....Read More
The budget announcement by Scott Morrison on 9 May 2017 was relatively subdued in relation to tax reform when compared to prior years. The budget saw a change in philosophy by the Coalition Government by announcing increase in taxes/levies and increases in spending, which is different from their usual commentary about...Read More
A snapshot of the highlights from the Australian Federal Budget for 2017 – 18 is shown in the infographic above courtesy of the Chartered Accountants Australia and New Zealand.
For further in depth analysis, you can download the Thomson Reuters Budget night report here which has been provided courtesy of Thomson Reuters.
Our analysis and summary can be found here.