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Hot Issues
300,000 SMEs utilising $20K write-off, says ATO
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Resources on our site to help you, your family and your friends.
Super for housing measures enter Senate
No Special Circumstances to allow Excess Super Contributions
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Powerful Budgeting, cash flow and Super Tools available on our site.
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Major Bank Levy Passed
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Australia's leading causes of death - ABS
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Our 'hardest' SMSF tasks
Uber drivers hit for 10% tax
Lack of literacy promotes unrealistic goals
Taxpayer failed to prove that payments were “loans”
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Items that heat up your depreciation deductions
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Articles
FBT – Christmas Parties and Taxi Fares
Hiring older employees
Deadline - 19th December 2014
Traps in Making Family Trust Distributions
Data matching offshore bank accounts
Estate planning in an SMSF.
Maximising the benefit of Credit Cards
Warning on Bank Offset Accounts
Mining tax gone but watch for associated tax changes
Hiring older employees

 

Subsidy to encourage employers to hire mature workers



       


 


The mature age worker tax offset will be abolished by the Government from the 2014–2015 income year and later income years. However, a new expenditure program being delivered by the Department of Employment, Restart, will provide alternative support by way of subsidy of up to $10,000 to employers who hire mature age job seekers.


The Restart program offers a wage subsidy of up to $10,000 (including GST) to eligible employers of mature age job seekers. The job seekers must be 50 years of age or older, and have been unemployed and receiving income support for six months or more. To receive the full payment, a business must employ the same employee for at least 30 hours per week for an ongoing period of two years. The Restart wage subsidy can also be claimed on a pro-rata basis if you hire a mature age worker part time, for at least 15 hours a week.


 


Thomson Reuters Tax and Accounting
Client Alert Newsletter
October 2014




13th-December-2014