News Update

Tax Planning 2016/2017 EOFY Alert 2016/17 EOFY Alert: Temporary Budget Repair Levy

15 June

A reminder that the 2016/2017 income year is the final year of the Temporary Budget Repair Levy, which is an additional 2% on top of the top marginal rate for individuals with taxable income over $180,000. From 1 July 2017, the highest marginal rate of taxation is 47% (being the 45% marginal rate plus 2% Medicare levy). This also applies for Fringe Benefits Tax. Good to know for tax planning.

[Originally posted on the OakWealth Blog]

Print Me

Like This

Most Recents

ALL RECENT

Disclosure Statement:

Yihsing Koo and Oak Wealth Solutions Pty Ltd (ACN:143 070 946) ATF Oak Wealth Solutions Unit Trust (ABN:657 966 722 37) are Authorised Representative(s) of Consultum Financial Advisers Pty Ltd (ABN:65 006 373 995), AFSL number 230323, an Australian Financial Services Licensee, with offices at Level 6, 161 Collins Street, Melbourne VIC 3000.

General Advice Warning:

Any advice or information in this publication is of a general nature only and has not taken into account your personal objectives, financial situation and needs. Because of that, before acting on the advice, you should consider its appropriateness to you, having regard to your personal objectives, financial situation and needs. Before making a decision to acquire a financial product, you should obtain and read the Product Disclosure Statement (PDS) relating to that product, and to seek appropriate advice. Past performance is not a reliable guide to future returns. The information in this publication reflects our understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases, the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. Opinions constitute our judgement at the time of issue and are subject to change. Neither the Licensee, nor their employees or directors give any warranty of accuracy, nor accept any responsibility for errors or omissions in this publication. Members of the IOOF group of companies (IOOF Group), associated employees or agents may have an interest in or receive monetary or other benefits from the financial products and services mentioned in this publication. The Licensee is part of the IOOF Group, and we may recommend financial products issued by companies within the IOOF Group.

Important:

We take your privacy and security seriously and we will never ask you to transfer money or provide personal information via email, unless we have spoken to you in person or the transfer is an existing arrangement we have in place with you. If you receive any such request that is outside the arrangements, we have in place with you, please contact our office immediately to confirm the validity of the request, before you do anything.

News Update

Tax Planning 2016/2017 EOFY Alert 2016/17 EOFY Alert: Temporary Budget Repair Levy

Most Recents

With Love and Legacy: Guiding Our Aging Parents with Compassion and Care

Ensuring Harmony and Legality: The Critical Role of Legal Advice in Fami...

‘Jam packed with love’: the story of the Anzac biscuit

Investment markets and key developments – Weekly market update19/4/202...

Stay Informed

CONTACT