NOBLE TAX GROUP Tax Planning for FY 2022- 2023 Below are the key tax planning for FY 2022- 2023 • Temporary full expensing: Businesses with an aggregated turnover of less than $5 billion can immediately deduct the business portion of the cost of eligible new depreciating assets. For a business with an aggregated turnover of […]

NOBLE TAX GROUP Federal Budget 2023-2024 Snapshot On 9th May, Federal Treasurer Dr. Jim Chalmers delivered his second budget for FY 2023- 2024. Below is the snapshot of Federal Budget 2023- 2024 from tax and super perspective. 1 Energy Boost to Small Business: The Government has announced a bonus 20% deduction for small business (turnover […]

Latest News NOBLE TAX GROUP PAYROLL TAX RATES AND THRESHOLDS The applicable payroll tax rates and thresholds for FY 2023 are the following: •ACT – The Payroll Tax rate and thresholds remain unchanged at 6.85% with an annual threshold of $2 million in annual Australian Taxable wages; •NSW – The Payroll Tax rate is set […]

NOBLE TAX GROUP Latest News • Home Office Expenses: Due to COVID-19, ATO has allowed shortcut method to claim for home office expenses. This shortcut method ends on 30th June 2022. • Low- & Middle-Income Tax Offset Increases: Government announced on 29 March 2022 a proposal to increase the low- and middle-income tax offset (LMITO) […]