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At Lawrence Business Management, we keep you up-to-date on issues affecting your business...


May Tax News

To view full versions of all articles below, click here

Flood levy passed on incomes over $50k
A new flood levy has been passed and will impose a 0.5% levy on incomes ranging from $50,001 to $100,000 and 1% on incomes above $100,000...More Info

ATO crackdown on personal services entities
The ATO is undertaking a project to collect information on amounts paid to personal services entities/ individuals by labour hire firms, placement agencies and computer consultancies to identify non-compliance in relation to lodgment and payment obligations...More Info

ATO withdraws cash sales benchmarks
The ATO's cash sales benchmarks for 15 industries (released in November 2010) have now been withdrawn, after a review of the data established inconsistencies. The ATO is set to release updated benchmarks later this year. Find out if your industry is affected...More Info

Fringe Benefits Tax: Rates from 1 April 2011
The benchmark interest rate for the FBT year commencing 1 April 2011 is 7.80% p.a.  This rate replaces the rate of 6.65% that applied for the previous FBT year...
More Info
 

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