eWombat Search

Latest Accounting News
Hot Issues
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Payroll, compliance issues top dodgy practices in Aussie business
Employee travel expense deductions
The Goldilocks effect - Economic and market update 4Q 17
Tax assessments confirmed for undisclosed business income
Super returns on the up despite clients’ hesitation
Australia. All you need to know to be the expert.
Business confidence hits 5-month high: NAB
Caution advised on best interests duty with cryptocurrencies
$20,000 asset write-off renewed for another financial year.
SMSF compliance traps with bitcoin
Where Australia is at. Our leading indicators.
Foreign resident CGT withholding: early recognition of tax credit
ATO set to doorknock as 60% of cash-heavy businesses caught
New downsizing cap available
Capital Gains and Renounceable Rights
Treasury finds Australia 'increasingly uncompetitive' as US moves on tax plans
Australia's vital statistics
Our Advent calendar for 2017
Articles archive
Quarter 4 October - December 2017
Quarter 3 July - September 2017
Quarter 2 April - June 2017
Quarter 1 January - March 2017
Quarter 4 October - December 2016
Quarter 3 July - September 2016
Quarter 2 April - June 2016
Quarter 1 January - March 2016
Quarter 4 October - December 2015
Quarter 3 July - September 2015
Quarter 2 April - June 2015
Quarter 1 January - March 2015
Quarter 4 October - December 2014
Quarter 2 of 2015
Capital Gains Tax – which year?
SMSFs may be missing out on allowable deductions
Change to Early Access Rules
Checklist for Employers Year-end
Year-end Tax Planning – Trusts
Year-end Tax Planning – Small Business
Year-end Tax Planning – Individuals
Reminders and Tax Strategies for SMSFs pre-year end
Overtime Payments May Eliminate Claims for Unfair Dismissal
Tips and traps for acquiring SMSF assets from related parties
ACCC issues scam warning
SME Dispute Resolution
Land Tax – Victoria
R&D incentives at risk
ATO adds ‘hot issue’ to its SMSF target list
Additional Super Contributions Not Appropriate for all
Issues arising from an underpaid pension
Salary and Superannuation after the death of an employee
IPA calls for zero pc tax rate
Australian Government - Budget 2015
Budget 2015 - some professional opinions
Looming end to SMSF Borrowings?
ATO warns SMSFs on franking credits scheme
Lump Sum Payments - Employer Reporting
Small business tax cuts 'not enough', says IPA
Small business tax cuts 'not enough', says IPA


The Institute of Public Accountants (IPA) says it broadly supports the proposed small business tax cut, .......


..... but has called for the cut to be applied to a broader range of businesses.

While the IPA said the proposed 1.5 per cent cut is a step in the right direction, chief executive Andrew Conway said it does not go far enough.

“We are very pleased that the government has started on this process, but as it stands the proposed tax cut only applies to those small businesses that are incorporated,"said  Mr Conway.

“We have been long advocating for a concessionary rate of tax for small business income to take into account the regressive burden placed on small business and to encourage and reward entrepreneurial activity.”

Mr Conway said it has been refreshing to hear that incoming treasury secretary John Fraser has been saying tax cuts are a better way of stimulating the economy than government spending.
“We couldn’t agree more,” he said.

“There are thousands of small businesses that are doing it tough and a concessionary rate of tax would be of significant benefit, so we are hoping the government will complete the job in the federal Budget by introducing other measures aimed at assisting all small business entities.

“We need to provide relief for small businesses to encourage their productivity, entrepreneurialism and growth,” Mr Conway said.


By Staff Reporter
16th March 2015



Stapleton Group: 83a Boronia Road Boronia VIC 3155 | Phone: (03) 9760 7800 | Fax: (03) 9760 7860