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calculating tax cuts in Australian recession

The latest tax cuts and how it will affect you in the recession

With the recent news that Australia has officially fallen into a recession after two decades of profitable growth and the new announcements of tax cuts, accounting advice is more important now than ever. Speaking with the ABC, Treasurer Josh Frydenberg has announced proposed personal tax cuts being brought forward in the vicinity of $158 billion for Australians. While the cuts were scheduled for mid-2022, they have been brought forward to ease the growing financial tension on Australians and help to

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Workers renovating apartment

Property Renovations: 5 tax tips to maximise profits

Renovating properties is clearly a popular way for many people looking to increase the value of a property they own. How popular? Well, a simple google search of “property renovation tips” returned 50,400,000 results. People really see the need to get great information on tips and the latest trends. We certainly agree that it is important to get expert advice on the “how to” when it comes to renovating and Google may well be a great starting point. But let’s

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Federal Budget 2019-20 Update

Happy Budget! Charter Partners has compiled this guide to the 2019-20 Federal Budget which was handed down last night by the Treasurer Mr Josh Frydenberg identifying the issues that are likely to affect our clients. This report contains a highlights section (like the cheat sheet for an exam or a Shakespeare play – remember the “old School Days”) and the “nitty gritty details” for those who like to get down and dirty. Charter Partners acknowledges both CPA Australia and Wolters

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2018-2019 Tax Review

How The 2018-19 Federal Budget May Affect Your Business

Small businesses around Australia remain relatively unaffected by this year’s Federal Budget. Here is a summary of the primary take-outs that you’ll need to be aware of for this financial year and to assist you in your planning for the 2019-20 financial year. $20,000 asset immediate write-off.   The most beneficial announcement that has some positive flow-on effect for most small businesses, is that the instant asset write-off up to the value of $20,000 has been extended for another financial

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