Legislation November 2018

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Running Time: 8:58

Date: 01/11/2018

  • Company tax rate and passive income test – Bill receives Royal Assent
  • 12-month extension of $20,000 instant asset write-off – Bill passed - finally!
  • Immediate deduction for fodder storage assets: Bill introduced
  • Black Economy Bill awaits Assent
  • Black Economy Measures (No 2) Bill introduced
  • Omnibus amendment Bill introduced: SGE definition expanded; Thin cap; Online hotel bookings and GST; R&D Tax Incentive changes
  • Tax Integrity Bill amended, awaits Assent - start date altered for CGT small business concession changes
  • Treasury Amendment (No 5) Bill introduced: AMIT and other amendments
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Peter McGinty, Chartered Accountants Australia and New Zealand