4 June 2014
In the 2014 Budget the Government announced its intention to change the time-frame for increasing the superannuation guarantee rate to 12% due to the uncertainty over the repeal of the Mineral Resources Rent Tax.
Superannuation guarantee (SG) is the official term for compulsory superannuation contributions made by employers on behalf of their employees.
The SG rate will increase to 9.5% effective 1 July 2014, as previously legislated.
29 May 2014
Boyce will once again field a team in the annual City2Surf challenge to raise money for the Burns Support Foundation.
Last year we had a record number of members in our team and raised a phenomenal $33,500 for this worthwhile organisation. We'd love you to join us this year - whether it's your first time, or you're a regular! Read below for details of how to sign up to the Boyce team.
14 May 2014
Federal Treasurer, Joe Hockey, last night delivered the Coalition Government’s first Budget and unsurprisingly there were not many surprises. As has been the trend over past years much of the detail had been leaked prior to budget night.
The 2014-15 Budget focuses on the expenditure side for the longer term and includes two main revenue raising measures to address the forecast budget deficits, reducing the 2014-15 cash deficit to $29.8 billion, down by approximately $20 billion from the current $49.9 billion.
The Government has flagged expenditure savings in areas including foreign aid, education loan programs, and family and welfare benefits whilst increasing revenue through the reintroduction of the fuel excise indexation and a 2% increase in the highest marginal personal tax rate for a three year period through the introduction of a “Temporary Budget Repair Levy”.
28 March 2014
As part of their bill to repeal the Carbon Tax Legislation, the Abbott Government intends to discontinue the Conservation Tillage Refundable Tax Offset as at 1 July 2014.
The proposed changes will not affect primary producers wishing to access the scheme for the 2013-14 income tax year.
Under the former Labor government's Clean Energy Future plan, primary producers have been able to access a 15 per cent Refundable Tax Offset (RTO) on the purchase of eligible seeding equipment.
28 March 2014
Deputy NSW Premier Andrew Stoner and Minister for Primary Industries Katrina Hodgkinson have announced additional assistance measures for drought stricken farmers in NSW in attempt to help landholders and communities deal with the crisis.
The measures include the expansion of a temporary package of emergency in-drought support measures to an additional 20 local government areas including – Armidale, Bogan, Central Darling, Cobar, Coonamble, Gilgandra, Glen Innes, Gunnedah, Guyra, Gwydir, Inverell, Moree Plains, Narrabri, Tamworth Regional, Tenterfield, Uralla, Walcha, Warren and Warrumbungle as well as Broken Hill and the far west Unincorporated area.