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Proposed LAFHA Changes – Update
The Federal Government is set to introduce the draft legislation in respect of the Living Away From Home Allowance (LAFHA) changes in the upcoming sitting of the Parliament. Advice from Treasury indicates they propose to issue a LAFHA Exposure Draft in May 2012.
The proposed Tax Laws Amendment (2012 Measures No 3) Bill 2012, which includes the provisions first proposed by the Consultative Paper released in November 2011 will be introduced into the Parliament after the 2012 Federal Budget, which is to be handed down on 8 May 2012.
Federal Budget 2012-13 Newsletter
If you are having trouble viewing this newsletter, or it isn’t formatted correctly, please view online MAY 2012 On 8 May 2012, the…
Federal Budget 2012-13
On 8 May 2012 the Treasurer, Mr Wayne Swan handed down his fifth Federal Budget. A fiscally tight Budget designed aiming to give rise to that oft-mentioned surplus for 2012-13 it contained anticipated tax changes, but also had a raft of other tax measures including changes to previously announced measures and significant changes to the tax loss measures. Previously announced measures the government decided not to proceed with included the standard tax deduction and the interest discount.
Treasurer Wayne Swan said the budget would deliver a small ($1.5bn) surplus in the year to 30 June 2013, thanks largely to cuts in spending on defence and foreign aid and abandoning planned tax cuts for companies and savers.
The PPSR is here – Are you ready?
The Personal Property Securities Register (PPSR) commenced on Monday, 30 January 2012.
If you provide credit terms to your customers or you have other commercial arrangements under which your goods or equipment are in the possession of a third party or related entity (for example consignments, leases) then you will probably need to register your rights on the PPSR, or risk losing any interest in your goods and equipment.
Proposed changes to tax treatment of LAFHA
The Federal Government has recently outlined changes to the taxing arrangements of Living Away From Home Allowances(LAFHA) from 1 July 2012. Under the current…
Overview of Carbon Price Package
The Federal Government announced details of its Carbon Price package at noon on Sunday 10 July 2011. The proposals are intended to reduce carbon pollution and secure a clean energy future with a Renewable Energy Target of 20% by 2020.
In summary the Governments proposals are as follows:
- A carbon price of $23 for each tonne of pollution beginning 1 July 2012
- Prices are expected to rise by 2.5 % a year in real terms during three-year fixed period until 1 July 2015 then it is proposed Australia will transition to an emission trading scheme
- The price of each tonne will be fixed, like a carbon tax
Walker Wayland participates in the City to Surf, support our chosen Charity SANE Australia
In 2010 Walker Wayland NSW participated in its first Sun Herald City to Surf with a small team of willing participants. We have registered…
Walker Wayland Health
Take advantage of over 30 years of experience in providing specialised financial, accounting and valuation services to pharmacists and other health sector professionals. Offering…
Pangolin Associates
Pangolin Associates works with businesses across Australia to increase efficiencies and reduce carbon and other environmental impacts on the globe. Our strategic alliance Our…