Budget 2017 has proposed a few tax changes. Read about them here:
- Rises from 2.0% to 2.5% from 1 July 2019 to help fund the National Disability Insurance Scheme.
Capital gains tax discount for investors in affordable housing
- Managed investment trusts will be allowed to develop and own affordable housing. Investors will get a capital gains tax discount of 60 per cent.
- Investors will get a capital gains tax discount of 60 per cent provided that they invest in qualifying affordable housing.
Small business accelerated depreciation extended
- Immediate deduction of assets up to $20,000 extended to 30 June 2018.
- Eligibility for student payments will be limited to people undertaking courses approved for VET student loans.
- Existing student payment recipients will be grandfathered for the duration of their current course unless there is a break in their payment entitlement.
- You may wish to consider this if you want to fund your child’s education costs.