Posts

Federal Budget 2015: General Business and Tax Administration

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.

Read more