The Fair Work Commission has been given $21.4 million over the next four years to fund legal remedies for victims of workplace bullying. A recent report by the Productivity Commission has highlighted the significant impact of bullying in the workplace, which could cost an estimated $36 billion in productivity each year. The Fair Work Commission…
Various measures have been introduced by the Government to close the loophole that enables sophisticated investors to engage in double claiming from franking credits. Under the proposed changes that are due to come into effect from 1 July 2013, the Government will ensure that when an investor sells shares ‘ex-dividend’, and then immediately buys equivalent…
The Government intends to phase out the out-of-pocket medical expense tax offset. Currently, a 20% tax offset can be claimed for eligible out-of-pocket medical expenses in excess of $2,060 per annum. For general medical expenses, only taxpayers who claim the offset for the 2013 income year will be eligible to claim in future years. Individuals…
The Government announced in last night’s Budget its intention to limit the allowable deduction for self-education expenses by individual taxpayers to $2,000 per annum from 1 July 2014. The limit will apply to all self-education expenses such as tuition, books, courses, computer equipment as well as travel and accommodation relating to seminars, courses etc. However,…
