This was a budget of few surprises. The main revenue raisers are through the black economy measures – which we welcome.
KPMG is concerned that the Budget announcements surrounding the removal of default insurance in super for people under the age of 25 will damage the overall system for relatively little benefit.
To avoid the Grinch stealing your Christmas by way of an FBT bill, here are some tips to keep in mind as we enter the silly season
For several years now, KPMG has argued that the potential changes to the tax and transfer system need to be evaluated through a prism of gender equity.
In many areas of public policy there is pressure on legislators and regulators to take action when the speed of change, often technological, has left laws far behind.
Australia is at risk of becoming too inward-looking. We need to look out to the world if we are going to maintain our standard of living.
The average expenses claim for work related expenses is $2,500. But would the conduct of some of these individual taxpayers pass the “pub test”.
We believe nothing less than a national campaign to move Australia away from the black economy is needed – involving support from business, trade union, social services, civil society leaders and both sides of politics.
The state government has allocated $150m to regional Queensland and $27.5m in Brisbane and SE Queensland, for its Back to Work scheme, which follows similar moves made in recent years by other states.
Small to medium sized businesses that implement a simple and effective year end process set themselves apart from their competitors and position themselves for advantage for the year ahead.