Company tax change in limbo An issue that many business owners and investors will need to grapple with is uncertainty on the tax rate that applies to companies for the year ended 30 June 2018 and the maximum franking rate on dividends paid during the 2018 income year. While the Government introduced a Bill to Parliament back in October 2017 which seeks to change the rules in this area, the Bill is still not yet law.
Merry Christmas Christmas is a time that reminds us that there is more to life than work. Embrace the season and all the pleasures it delivers. We wish you and your family a peaceful, safe and happy Christmas. We look forward to exploring the New Year with you and seizing the opportunities it offers. Our office will be closed from 25 December 2017 and will reopen on 8 January 2018.
Taxing Bitcoin Cryptocurrencies, like Bitcoin, are independent and not regulated by any central authority. Until recently, these digital currencies were not treated in the same way as cash for tax purposes in Australia. New legislation passed by Parliament last month seeks to change all of that by removing GST from currency exchanges. How are cryptocurrencies taxed? Under GST law, a 10% GST applies to supplies of goods and services. Money receives special treatment because it’s a medium of exchange and not something for final private consumption.