June 2017 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for June 2017:

June 2017 Newsletter

We would like to highlight the following articles in this month’s newsletter:-

Federal Budget – the federal budget was recently released and the June 2017 newsletter summarises some of the significant announcements.  Please contact us if you have any queries or require any further information. Following are two important measures we would like to highlight:-

  1. Instant Asset Write Off – the government has announced that they are going to extend the instant asset write off (ie, immediate deduction) for eligible depreciating assets purchased by small businesses for a further 12 months up to 30 June 2018.  In addition, more small businesses will be able to access this provision, as the annual turnover test to define what is a small business is being increased from $2million to $10million.
  2. Superannuation – as you may be aware, signifcant changes to superannuation are occuring from 1 July 2017.  Importantly, there are a number of issues to consider before 30 June 2017, in particular, structuring your current supernnaution / pensiuon account(s) in respect of the new $1.6mil pension cap and looking at whether one should make further superannuation contributions before the contribution cap levels reduce from 1 July 2017 onwards.  Consideration to these changes before 30 June 2017 is very important, hence please contact us to discuss your situation.