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July 2017 Tax Newsletter

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We are excited to release our first Tax Newsletter of the new financial year. It is full of new legislations for the new financial year.

Some of the topics we discuss are:

  • Higher education HELP changes announced - A package of reforms affecting the Higher Education Loan Program (HELP) is expected to take effect generally from 1 January 2018.
  • Super reforms from 1 July 2017 - Superannuation changes related to the new $1.6 million transfer balance cap are now coming into effect.
  • Draft legislation: LRBA integrity measures for pension cap - Exposure draft legislation has been released proposing integrity measures for limited recourse borrowing arrangements (LRBAs) as part of the super reforms.
  • Higher education HELP changes: faster repayments and threshold changes - The Minister for Education and Training has announced a package of higher education reforms to be confirmed in the Federal Budget.
  • Deductions for super funds: major ruling update - The ATO has issued Addendum to Taxation Ruling TR 93/17 to clarify and update the Commissioner's views on deductions available for superannuation funds.
  • Bill to reduce corporate tax rate - The Treasury Laws Amendment (Enterprise Tax Plan No 2) Bill 2017 has been introduced.
  • Budget updates - Information about the announcements on introducing a charge for foreign owners of under-used residential property, restricting foreign ownership within new developments and introducing tougher residency rules for pensioners.

To read more, please download the full newsletter.

If you would like to discuss any of these topics, please call us on 02 9580 3353

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