Archive for May, 2018

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2018 Federal Budget Analysis 8 May 2018

Scott Morrison’s third Federal budget is headlined by $140 billion in tax cuts over the next decade, immediate tax relief of up to $1,060 a year for middle-income households and a fundamental reform of the tax system.

Summary of Budget measures

Note: These changes are proposals only and may or may not be made law.

From 1 July 2018

  • Low and middle income earners are to benefit from tax savings of up to $530 per person (or $1,060 per couple).
  • The Medicare Levy will remain at 2%.
  • The $20,000 instant asset write-off for business with aggregate turnover less than $10m will be extended
    until 30 June 2019.
  • Funding for home care services and residential aged care will increase.
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Online Financial scams: Be aware

They say that crime never sleeps, and neither does the internet especially when it comes to Online financial scams, money-related scams, including identity theft, fake financial schemes, and more.

The good news is that improved research and information-sharing between international agencies is already helping us catch up. Now that 2018 is well underway, we’re starting to see a lot of really interesting data come in from regulators and researchers on 2017’s worst online financial scams and identity theft crimes. Their reports are full of insights and tips that could save you from falling victim to a scam in the near future. 

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