The Medicare Levy has certainly been making headlines lately. There are a lot of changes ahead but, for now at least, low Income individuals and families can still qualify for an exemption or a reduction in the amount of Medicare Levy they have to pay, based on family income. The 2012-13 Medicare Levy low income [...]
Family Tax Benefit A and B both include a supplement payment. This typically gets paid after you (and your partner, if you have one) have lodged your tax return for the year and actual income is reconciled against the family assistance you have received. If it turns out that you have been overpaid, the supplement will [...]
The budget delivered by Federal Treasurer Wayne Swan could be reasonably described as anti-climactic in many respects. It comes as no surprise therefore that the budget was devoid of any attempt to genuinely work towards true reform of the overall tax system (rather than periodic band-aid measures) to adequately meet the challenges facing Australia. Many [...]
The Gillard Government today announces changes to the Medicare levy to build a better life for Australians with significant and permanent disability. According to the Government media release, “Labor is transforming disability services by creating and locking in funding for DisabilityCare Australia, the national disability insurance scheme. [quote float="right"]For someone earning around average wages of [...]
Privacy Awareness Week (28 April – 4 May) is an annual event to promote privacy awareness and the importance of protecting personal information. This year, the theme is privacy law reform. [quote float="right"]Remember that having access to people’s personal information comes with responsibilities, such as using this information only in ways that they expect and [...]
In a Media Release earlier today the Government announced that it will “better target work related self-education deductions” as part of a package of reforms to make a down-payment on the National Plan for School Improvement. Education expenses include formal qualifications and associated tuition fees, textbooks, stationery and travel expenses and also conferences, seminars and [...]
For the first time in Australian history, small business is uniting for a national grassroots campaign in the lead up to the federal election and beyond. Supported by the chambers of commerce and industry movement across Australia, the “Small Business. Too Big to Ignore” campaign will feature press, radio, television and online advertising, as well as activities and [...]
The government has announced its intended reforms to the superannuation system, prefacing its announcement with a re-commitment on its decision to gradually increase the Superannuation Guarantee rate from 9% to 12%. The nub of the long statement however seems to be that income from certain pension streams are to be taxed at 15%. According to [...]
The fringe benefits tax (FBT) year ends tomorrow and the FBT return lodgement deadline is now on the horizon. The ATO has taken the opportunity to remind employers that it is actively using data matching to identify potential FBT obligations associated with motor vehicles. Businesses that have bought a vehicle in the last two years [...]
From 1 July 2013, individual income tax returns with an expected refund will be required to include bank account information in order to be lodged. That’s right… it’s not optional any more. [quote float="right"] Be ready this year with the bank account details where you want your tax refund paid[/quote] Apparently a large number of [...]
This blog is maintained by the team from Alan Lewis Accountants. The blog began back in 2007 and continues to this day with the goal of keeping taxpayers and small business educated and informed.
Family Tax Benefit Supplements 2013
Family Tax Benefit Supplements 2011
Changes to Government Payments in 2013
Self Education Expenses Cap on Deductions
2009: When will I get the $600 Carer Supplement?
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