General business announcements include: expansion of tax concessions for Employee Share Schemes; changes to the R&D tax incentive; a new tax system for managed investment trusts; streamlined business registration; and facilitation of crowd sourced equity funding. For tax administration: establishment of a Serious Financial Crime taskforce; the value of penalty units will increase; GST will apply to imported digital products and services; and salary sacrificed meal entertainment and entertainment facility leasing expenses will be capped.
Despite the lead-up mutterings that the budget was going to be “dull and boring”, there were nevertheless a few surprises contained in the pages of the budget papers.
Congratulations to Vaughn Whish-Wilson, Stephanie Jackson and Scott Mason on achieving Xero Certification this week, joining Kurtis Alexander and Fiona Muir as Xero Certified Advisors,
The comprehensive course has given them a thorough understanding of the functionality and features of Xero so they can better advise clients on how to get the most from the system. If you’d like to discuss Xero with one of our experts we encourage you to get in touch. You can also learn more about Xero here.