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Latest news: 2018 Federal Budget Summary
Personal Income Tax The centrepiece of this year’s Budget is the Government’s seven year Personal Income Tax Plan. Step 1 of the plan provides immediate tax relief for low and middle income earners through a targeted non-refundable offset, on top of the low income tax...
ATO Key Dates
15 May 2018 - Income tax returns Due date for all entities that did not have to lodge earlier (including all remaining consolidated groups), that are not eligible for the 5 Jun 2018 concession, to lodge 2016/17 income tax returns. The due date for companies and...
Tax Facts – Income Tax for Individuals
Income tax is levied on taxable income, which is calculated as assessable income less allowable deductions. Gross tax on taxable income is reduced by tax offsets, to arrive at net tax payable or refundable. The Australian Taxation Office (ATO) publishes lists of...