Taxation

Overnight, the Palaszczuk Government released their State Budget 2019-20, dedicating initiatives to help Queensland's business sector and continue growth across our State economy.

With the end of the FBT year, employers will be focusing on strategies on how to minimise their FBT liability and possibly reduce their employee’s reportable fringe benefit disclosure. 

A brief note below on some taxation matters that may impact your business and some announcements that are not yet law but might be useful for your business planning.

I have put together a handy tax update so you can ensure none of the following taxation topics have slipped past your radar.

In the 2016-17 Budget, the Government announced that it will reduce the corporate tax rate progressively from 30% to 25%.