July Newsletter Update

July Newsletter Update

Company tax change in limbo

An issue that many business owners and investors will need to grapple with is uncertainty on the tax rate that applies to companies for the year ended 30 June 2018 and the maximum franking rate on dividends paid during the 2018 income year.

While the Government introduced a Bill to Parliament back in October 2017 which seeks to change the rules in this area, the Bill is still not yet law. As a result, it looks like we will need to apply the existing provisions for determining company tax rates and maximum franking rates (which are based on whether the company carries on a business), but also to be aware that the position might change if and when the Bill passes through Parliament.

Inside the July Newsletter you will find articles on:

When can you take your super?
What happens if you contributed too much?
Using SMSF assets and funds
New minimum pay rates from 1 July 2018
How will the new rules work?

Click here to read the full July Newsletter

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