Australia’s tax agency says it can retrospectively deliver tax cuts if the coalition’s proposal doesn’t pass through parliament before the end of the financial year. But it remains to be seen if the tax cuts will pass parliament, with key crossbench senators still to pledge their support for the plan. Government senator Zed Seselja is […]
Scott Morrison plans to prioritise his promised tax cuts after he settles his new ministry line up, as the nation waits to see if the coalition gets a majority in the lower house. As counting continues on Monday the Liberal and Nationals were on 75 seats – two seats short of the 77 it needs […]
Today the Council of Small Business Organisations Australia (COSBOA) has released comparison findings on the policies proposed by the Coalition and the Australian Labor Party (ALP) that will effect small businesses. The policies were assessed based on areas considered to be of high importance to the small business community. As part of the findings, COSBOA […]
Prime Minister Scott Morrison won’t be drawn on a possible interest rate cut by the Reserve Bank, saying any reduction is a decision for the independent central bank. Financial markets see an increased likelihood of a cut in the 1.5 per cent cash rate after inflation figures released this week showed the annual rate unexpectedly […]
The Government’s announcement to increase and extend the instant asset write-off is expected to stimulate small business growth and investment. According to business accounting software company, MYOB, 28 per cent of small businesses find cashflow a real pressure. “Steps like these will provide a welcome leg-up to businesses looking to achieve growth this year,” said […]
The Turnbull Government has drafted legislative reforms to support investment in innovative fintech companies by venture capital and angel investors, Treasurer Scott Morrison has announced. Released yesterday for a public consultation period ending Friday, 10 November, the exposure draft of the Treasury Laws Amendment (2017 Measures No. #) Bill 2017 proposes amendments to the Tax […]
Legislation to remove double taxation on digital currencies, such as Bitcoin, has been passed by Australian Parliament, with fintech industry leaders describing the news as a win for consumers and businesses. The Treasury Laws Amendment (2017 Measures No. 6) Bill 2017 was tabled in Parliament, last month, by Treasurer Scott Morrison. He said the reform, which will […]
The Coalition government has introduced legislation to remove double taxation of digital currencies, ensuring Australians will no longer be charged GST on purchases of virtual money, such as Bitcoin and Ethereum. The Bill will ensure that digital currency is treated the same way as physical money for GST purposes. Treasurer Scott Morrison said in a […]
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