Tax - 14/16 - CS Accountants
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Tax Tag

The Government has just announced an increase to the Medicare Levy threshold to help pay for the flood recovery process. Applying from the 2011/2012 income year, the flood levy of 0.5% will apply to all taxpayers with a taxable income of $50,000 or more and 1% for all those with an income above $100,000.

The Christmas break is on the way, and many businesses will be planning their annual year-end break-up party. However, an important issue for businesses to consider is the possible FBT and income tax implications of providing 'entertainment' (including Christmas parties) to staff and clients.