Impact of mining tax repeal on small businesses

Current as of September 2014 The key election promise to repeal the mining tax has finally passed through the Senate, and received Royal Assent on 5 September. Unfortunately the repeal bill included backdating the abolition of some key business tax concessions: The company loss carry-back provisions, which allowed a use of current year tax losses in order to get a … Read More

Employee Share Schemes – changes are coming

Current as of August 2014 The federal government is planning to change and reduce the tax burden on the current employee share scheme tax laws. This will be a big relief for start-up companies and companies seeking to attract and retain talented employees. Under the current tax law introduced from 1 July 2009, employees can be taxed upfront on acquiring … Read More