Education Tax Refund – no longer exists. The government has removed this initiative retrospectively and replaced it with the School Kids Bonus. The good news is that you no longer need to spend money and keep receipts for school items in order to be reimbursed 50% of...
INDIVIDUALS: Schoolkids Bonus to replace Education Tax Offset From 1 January 2013, families will receive the Schoolkids Bonus cash payment worth $410 for each child in primary school and $820 for each child in high school each year. The new automatic payment will...
With the recent talk in Australia of “taxing the rich” (itself an echo of current sentiment in the U.S), I urge everyone to watch an informative presentation by Tony Robbins titled “The National Debt and Federal Budget Deficit Deconstructed”. Here is the link: The...
The Treasurer with his 2012 Budget introduced a new concept that has some merit, albeit with severe limitations, called the ‘business tax loss carry back’. For some context, before this was introduced, businesses could only carry forward tax losses and use them to...
We gave you the heads up 5 months ago that the Treasurer was postponing the introduction of the ‘standard tax deduction’ and the ‘50% discount on tax on interest earnings’ (see article ‘In case you missed it’ posted 15/12/2011), and with our realistic leanings,...
