As of 1 October, the provision of a Living Away From Home Allowance (LAFHA) will be treated as income to employees and businesses will need to assess entitlements and employment terms and conditions under the new rules. Here’s what you need to know about managing the allowance.
The career choices of international professionals working in Australia may be affected by the Government’s decision to abolish the Living Away From Home Allowance (LAFHA).
Julian Smith of MYOB blogs about what the Federal budget means for SMEs.
“It’s disappointing and frustrating to see the Federal Government continuing to claim that lowering the company tax rate is a win for small business. We are simply just not buying that old chestnut.”
Plans to build Australia’s workforce, unveiled in last night’s Budget are a step in the right direction for private businesses.
The Government has listened to long-held concerns of tax professionals and reformed excess superannuation contribution tax traps that have tripped-up as many as 30,000 taxpayers each year, The Tax Institute said today.
An examination of the Attorney-General’s portfolio has revealed a new tax levied against many small businesses, requiring them to pay a flat $500 annually to the anti-money laundering regulator.
Australia’s acute skills shortage received a significant boost, with $661 million in funds allocated in the Federal Budget to address training, apprenticeship and adult literacy issues.
The National Broadband Network (NBN) received a funding boost in last night’s Federal Budget, with the Rudd Government allocating additional funding to implement the NBN through to 2014.
Small business owners have received the predictable federal budget they needed to continue to climb out of the wake of the global financial crisis.
The $500 standard tax deduction announced in the Federal Budget tonight is a fraction of the average currently claimed by taxpayers.
