Finance

Under changes announced in yesterday's state budget, businesses in Victoria with payrolls of more than $10 million will have to pay an additional payroll tax surcharge.

The Morrison government has proposed to give small businesses an easier way to pause debt recovery action pursued by the tax office.

The Morrison government will revamp taxation on employee share schemes in a $500 million bid to boost innovation and entrepreneurship. 

As the first state in Australia to offer a dedicated rebate to video game companies, the announcement by the Australian government now puts South Australia at the forefront to attract and foster video game developers.

The government’s new digital strategy could bring in changes to tax concessions for VC firms in Australia, with key schemes to be reviewed.

Allowing for depreciation on intangible assets acknowledges the importance of tech and tech investment in the post-COVID-19 economy, and it’s something small businesses have long been crying out for.

Tax office data has been used to calculate ways that would give a standard deduction to everyone who wants it (and others more, up to a cap) without increasing the total paid out.

Small brewers and distillers are set to benefit from $225 million in excise tax relief from July, under new changes in the federal budget.

Recommendations from a senate committee on fintech and regtech could see R&D Tax Incentive payments dished out on a quarterly basis.

Boyle is facing life in prison for his role in exposing unethical debt collection practices inside the ATO.

Small business owners lodging their tax returns this year can expect the ATO to be on the lookout for dodgy work-from-home claims.

Family business advocate Kirsten Taylor-Mayne urges Stuart Robert to consider introducing CGT rollover relief for family businesses.