Budget 08: Other Assorted Changes

by on May 18, 2008

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A few other budget changes and initiatives include:

  • Restricted eligibility for the Entrepreneur’s tax offset.
  • Changes to fringe benefits regarding the current exemptions.
  • Depreciation period changed for in-house software.
  • Definition of a family changed with regards to family trusts.
  • Expanding the definition of income for government support.
  • No deductions allowed for donations to political parties.
  • Luxury car tax rate to increase from 1 July 2008 to 33%.
  • Family Tax Benefit Part B limited.
Christie Lewis

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Christie is Practice Manager at Alan Lewis Accountants . Besides accounting, her passion is for all things small business (and blogging, of course). You can contact Christie directly at christie@lewistaxation.com.au.

Christie has written 811 awesome articles for us at Alan Lewis Accountants – BLOG

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