2019 Budget: Rewarding working Australians

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The 2019 Federal Budget focuses on rewarding working Australians, with the emphasis on a two-pronged approach for “hard-working” individuals. Individual taxes:From the 2018-2019 income year, the low and middle-income tax offset (LMITO) has been increased by $550. This now means individuals can have their tax reduced by up to $1,080 and dual income families up…

2019 Budget: A business growth based Budget

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The 2019 Federal Budget focuses on building a better tax system for Australian businesses in order to create a stronger economy. Instant asset write-off:The instant asset write-off threshold will be increased from $25,000 to $30,000 and be extended from businesses with an annual turnover of up to $10 million to medium-sized businesses with a turnover…