Things you need to know.
What a difference a year makes. The 2010 Budget was announced on 20 May 2010, bringing in far-reaching changes. Outlined below are the more topical changes.
• Personal Tax Cuts
The Budget delivered reductions to all personal tax rates, effective from 1 October 2010.
• Working For Families Changes
The Budget has made a number of changes to the qualification criteria for Working For Families (‘WFF’) assistance.
• Loss Attributing Qualifying Companies (LAQCs) & Qualifying
Companies (QCsThe Budget outlined intended changes to
both LAQCs and QCs, which will result in them being treated
similarly to partnerships.
• GST TRANSITION. Are you ready for the change in GST from 12.5% to 15%? Contact us today to assist in your GST transition.
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