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Private health insurance rebate percentages for 2016/17

By | 2017-04-06T23:58:02+00:00 April 6th, 2017|Categories: Tax|

The Private Health Insurance Rebate Percentages that apply from 1 April 2017 have been released. The table below sets out the rebate percentages for the 2016/17 income year. Base Tier Tier 1 Tier 2 Tier 3 Singles $90,000 or less1 $90,001–$105,0001 $105,001–$140,0001 $140,001 or more1 Families2 $180,000 or less1 $180,001–$210,0001 $210,001–$280,0001 $280,001 or more1 Under [...]

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Stamp duty for first home buyers abolished (Vic)

By | 2017-03-27T04:07:42+00:00 March 27th, 2017|Categories: Stamp duty|

The Victorian Premier, Mr Daniel Andrews, has announced that stamp duty will be abolished for first home buyers for purchases below $600,000. Further, those buying a home valued between $600,000 and $750,000 will be eligible for a concession applied on a sliding scale. The exemption and concession will apply to both new and established homes. The [...]

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Changes to penalties for small business and individuals

By | 2017-03-27T04:02:39+00:00 March 27th, 2017|Categories: Tax|

The ATO has released a report on findings from consultation on its paper “Proposed changes to penalties for small businesses and individuals”. The ATO is proposing to offer “one chance” before applying a penalty to eligible small businesses and individuals for false and misleading statements and for failure to take reasonable care failure to lodge on [...]

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Family tax benefit freeze Bill introduced

By | 2017-03-27T03:57:42+00:00 March 27th, 2017|Categories: Family Tax Benefit|

The Social Services Legislation Amendment Bill 2017 has been introduced by the government into the Senate and passed without amendment. The Bill has subsequently been introduced in to the House of Representatives. The Bill contains the following three measures from the original Social Services Legislation Amendment (Omnibus Savings and Child Care Reform) Bill 2017: • Indexation [...]

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