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Archive for the ‘Tax News’ Category
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General Deduction for Donations to Flood Relief
August 8th, 2011 
admin The ATO has announced that it has approved a tax deduction of $10 for bucket donations to the Queensland and Northern New South Wales flood appeals. These donations do not require a receipt in order to claim a donation in your 2011 income tax return.
One-off Flood Levy in 2012 Tax Year
August 8th, 2011 admin The Prime Minister has announced that she will seek to introduce a flood levy in the 2012 tax year to assist with the infrastructure rebuilding of flood affected regions in Queensland. The levy will be applied at marginal rates. The levy will apply to individual taxpayers only and will be collected through the regular PAYG [...]