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News in 2005

 

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Note: News items include proposed legislative changes which generally take effect at a later date.

 December 2005

      Regulations, with effect from 1 January 2006, have: (i) extended the term of market-linked income streams and life expectancy income streams so that payments can continue until the member reaches age 100 (or until a person's spouse reaches 100), or the greater of the member's or spouse's life expectancies where these are greater than 100; and (ii) allow annual market-linked income stream payments to vary between plus or minus 10%.

       JULY 2005

-       Tax cuts for small business (turnover up to $75,000pa) – new 25% Entrepreneurs’ Tax Discount for the 2005/06 tax year.(1/7/05)

 

If you would like further information regarding these new measures please contact Rose Cotter at Cotter Accountancy.

 

 

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Rose Cotter

 

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