Non-residents lose CGT main residence exemption

Non-residents lose CGT main residence exemption

Legislation has now passed imposing restrictions to the popular and highly beneficial Capital Gains Tax (CGT) main residence exemption for non-residents. Broadly speaking, from 30 June 2020, non-residents will no longer be eligible to apply any of the main residence exemptions to reduce or eliminate a capital gains tax liability if they are a non-resident […]

Read more >
$1,080 Tax Offset Passes

$1,080 Tax Offset Passes

The Government’s changes to the Personal Income Tax Plan as announced in the 2019-20 Federal Budget, are now finally law! The low and middle income tax offset increased from a maximum amount of $530 to $1,080 per annum and the base amount increases from $200 to $255 per annum. So how much will you receive? […]

Read more >
$30k Instant Asset Write-off

$30k Instant Asset Write-off

By Chris Burnett You may have heard about the $30k instant asset write-off that the Federal Government introduced as part of their 2019-20 budget announcement which is now law and applies to certain purchases made before 30 June 2020. With the end of the financial year only 11 days away its a good idea to […]

Read more >