WEEKLY TAX BULLETIN Comprehensive, analytical tax news
Keeps you completely up-to-date with all changes in tax and related matters.
Provides business focus on key tax issues you need to understand.
Provides an indispensable research and reference tool for tax technical issues.
Fast, easy access to the information you need.
Clear set out.
Weekly Tax Bulletin is written and compiled by Terry Hayes, Senior Tax Writer and Editor-in-Chief of the Thomson Reuters Tax Newsroom. Special coverage is given to year-end tax planning, the Federal Budget and newly introduced tax legislation, as well as major tax developments and GST.
Available in the following formats:
Knowledge is power. See WTB in action with our business series below…
cuts and passive
The company tax rate for small businesses continues to drop. Originally 30 per cent, it is now at 27.5 per cent for businesses that report an annual turnover of less than $10 million.
While this change means extra cash for small business operators, it also stands to benefit companies that derive income from passive investments, such as family trusts.
Justified trust initiative in the name of transparency
With the spotlight on community and political concerns whether the Australian tax system is robust enough to ensure that taxpayers are paying the right amount of tax, the justified trust initiative is part of the next wave of the government’s transparency drive.
What do millennial customers want from their accountants?
Baby boomers might still claim around half of Australia’s wealth, but millennials – also known as Generation Y – are closing the gap, seeing their average net worth increase more than five per cent in 2013–14 alone.
With many now in well-paying jobs and climbing the career ladder, millennials form a vital part of the Australian economy. Here are four ways to cater to this new tech-savvy generation, which will eventually grow to become your biggest and most valuable client base.
Top 8 work-related
ATO is watching
The Australian Tax Office (ATO) is keeping a close eye on work-related expense deductions around tax time, an announcement that came after more than eight million Australians claimed around $23 billion in work-related expenses in 2015–16, which the ATO noted included a lot of over-claiming.
Here’s an overview to help you prepare yourself and your clients for the upcoming changes.
4 ways for tax professionals to improve productivity
Tax professionals wear many hats – from financial reporting and audits to helping non-finance colleagues understand the tax implications of business decisions. A busy schedule doesn’t always equate to productivity, however. Tax professionals are known for their attention to detail and great time-management skills, but some days it’s easy to get sidetracked by less-important tasks.
4 tips to retain millennial talent in your firm
Retaining staff is essential to workplace productivity and cost reduction. According to the Australian HR Institute, the monetary cost of replacing a departure is estimated at “around one-and-a-half times the person’s salary”.
With millennials forming more than 75 per cent of the Australian workforce by 2025, firms need to adapt operationally, technologically and culturally in order to retain talent from a generation that will shape the business world in years to come.
Tax and finance in a tech-disrupted
In a few short decades, computers have transformed the tax and accounting disciplines into a fast-paced, dynamic professions.
Here’s how technology is helping firms evolve into innovative practices and changing remits in industry professionals’ roles.
ATO shifts tax remittance to property buyers
The Australian government is cracking down on the collection of income tax and GST revenue arising from property transactions, a move that is estimated to generate $660 million over four years. These measures shift the onus of remitting GST from property developers to purchasers.