Latest Accounting News

Quarter 2 of, 2017 archive

  • ‘Bank-like heists’ make way for new wave of cyber crime
  • ATO reports on key contraventions for 2016-17
  • ATO, mid-tiers warn on common expenses myths
  • SMSF trustees told to take action on contributions
  • Higher instant asset write-off threshold for small business extended
  • Australian population figures
  • New data points to spiralling retirement costs
  • Personal insolvency numbers spike across Australia
  • ATO cracking down on taxable fringe benefits
  • Intangible capital improvements made to a pre-CGT asset
  • The three core pillars of this year's budget
  • Federal Budget - 2017-18 - Overview
  • Does your business import or export goods and services?
  • Federal Budget - 2017-18 - Budget documents
  • When does an asset cost less than $20,000? Depreciating assets: composite items
  • ATO finalises guidance for capped defined income streams
  • Warning on trap with trust deed updates
  • 2011 Census - what was the make up of your area?
  • It’s no secret that Australians have some of the largest houses in the world.
  • Resources on our site to help you and your family.
  • ATO defends approach to SG compliance
  • Essential steps for SMSF clients before 30 June
  • New tax incentives for early stage investors
  • FBT Reminder – Odometer Reading
  • ATO on 'aggressive' debt recovery hunt
  • More ATO downtime looms ahead of tax time
  • Tax debt release applications refused
  • Troublesome tax system overhaul picks up speed
  • Government to ‘put to bed’ uncertainties with TRIS
  • Travel expense and transport of bulky tools claim denied
  • New law sheds light on global tax issues
  • Report tips housing price spikes to wipe out super savings
  • New tax incentives for early stage investors

    On 5 May 2016, the Tax Laws Amendment (Tax Incentives for Innovation) Act 2016, which includes the tax incentives for early stage investors, received Royal Assent.

           

     

    Summary:  The tax incentives provide concessional tax treatment for investments made in a range of innovative start-up companies with high growth potential.

    The tax incentives provide investors with:

    a 20% non-refundable carry-forward tax offset for qualifying investments, capped at $200,000 for each investor and their affiliates (combined) per year, and
    an exemption from capital gains tax (CGT) for qualifying investments held between one and ten years (capital losses on investments held for less than ten years must be disregarded).

    read more on this topic here.

     

    The Australian Taxation Office (ATO)

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    30 Rowan Street, Wangaratta VIC 3677
    Phone 03 5721 6766
    Fax 03 5721 6584
    Email enquiry@obts.com.au
    ABN 85 922 198 593