What’s changing on 1 July 2022?
A series of reforms and changes will commence on 1 July 2022. What’s changing on 1 July 2022?
The ‘Backpacker Tax’ and the High Court
Since 2017, the ‘backpacker tax’ has taxed the first dollar of income a backpacker earns in Australia – regardless of their residency status – at the working holiday maker tax rate of 15%.
1 July company tax rate reduction
Despite the current economic environment, the company tax rate will reduce to 26% for small and medium businesses from 1 July 2020.
Compliance: What’s changing on 1 July?
This article is a quick summary of what will be changing on 1 July 2020, beginning of the 2021 financial year, regarding the ATO’s JobKeeper audit targets.
CGT and the family home: expats and foreigners excluded from tax exemption
Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. We explore the impact.