From 1 July 2017, travel expenses relating to residential investment property are not deductible.
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Legislation that passed in Parliament last month will enable primary producers to claim an immediate deduction for fodder storage assets such as silos and hay sheds used to store grain and other animal feed.
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Single Touch Payroll (STP) reporting has commenced, with around 40,000 employers sending tax and superannuation information from their payroll software each time they pay their employees.
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The proposal to reduce the tax rate large companies with over $50 million grouped turnover has been scrapped and will remain at 30%.
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Here are some reminders of items that may apply to your business:
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The government has announced additional funding to increase their level of review activities and assistance to tax payers.
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