With over 200 tax changes, ensure you are staying current with information from an unbiased, trusted source.
Confidently advise your clients and quickly navigate all areas of tax law with the Australian Master Tax Guide - Tax Year End Edition 2015. Access authoritative commentary, practical examples, tax planning points, checklists and key tax dates, quickly and easily.
Top 10 tax changes that could affect you and your clients this year
- 2% budget repair levy applies to an individual’s taxable income in excess of $180,000; consequential rate changes apply
- Mature age worker tax offset is abolished
- Spouse rebate to be abolished
- Government co-contributions to the First Home Saver Accounts scheme will be abolished
- US Foreign Accounts Transactions Compliance Act reporting and withholding requirements come into force in Australia
- The Commonwealth Ombudsman’s tax investigation function to be transferred to the Inspector-General of Taxation from 1 May 2015
- Introduction of biannual indexation of fuel excise rates
- Changes to the farm management deposits scheme
- Changes to the tax treatment of excess non-concessional superannuation contributions
- Entities giving tax advice in the course of giving financial product advice brought into the tax agent regime
Table of Contents
- Highlights of 2015 Tax Changes
- Checklist of Tax Changes in 2014/15
- Introduction to Australian Tax System (Chapter 1)
- Types of Taxpayer (Chapters 2-8)
- Tax Accounting, Stock (Chapter 9)
- Income, Capital Gains (Chapters 10-12)
- Superannuation, Termination (Chapters 13-14)
- Personal Offsets, Deductions (Chapters 15-16)
- Capital Allowances, Incentives (Chapters 17-20)
- International Taxation (Chapters 21-22)
- Finance (Chapter 23)
- Returns, Assessment, Payment (Chapters 24-27)
- Disputes, Avoidance, Tax Planning (Chapters 28-31)
- Tax and BAS Agents, TFNs, ABNs (Chapters 32-33)
- Other Taxes (Chapters 34-40)
- Tax Rates, Checklists, Pending Legislation (Chapters 41-45)
- Case Table, Finding Lists, Index
Stay across the Federal Budget 2015 proposals with this new edition. You'll find these and many more proposals covered in the Guide.
- Small business will be able to claim an immediate deduction for assets acquired and installed ready for use between 7.30 pm AEST on 12 May 2015 and 30 June 2017 costing less than $20,000 (up from $1,000).
- The fringe benefits tax exemption for portable electronic devices used primarily for work purposes will be expanded for small businesses from 1 April 2016.
- Early access to superannuation will be provided to people with a terminal medical condition with effect from 1 July 2015.