Government to Extend LMI Tax Offset
April 27, 2021
Workers to keep $1,080 tax rebate for another year.
The AFR has reported that the govenment plans to extend the Low and Middle Income Tax Offset (LMITO) when the federal budget is handed down in two weeks time.
The LMITO provides a tax rebate of up to $1,080 for singles and $2,160 for dual-income couples depending on their income. It was initially introduced as a temporary measure, implemented as part of the Morrison Government’s Stage 1 tax cuts.
However with the economic pressure of COVID-19, the government will extend the offset in an effort to create tax refunds and stimulate spending. The budget cost of the extended rebate is around $7 billion.
Are you using data insights to drive your operational efficiency? We’ve got the lowdown on five ways that data-based decision-making takes your business to new levels of productivity.
Putting data at the heart of your growth strategy is a no-brainer. We’ve broken down five ways that data-based decision-making helps you grab the best opportunities and grow at pace.
Analysing your customer data is a no-brainer in our data-driven times. We’ve shared five ways that data can help your sales, marketing and social media activity.
Data-based decision-making helps you take informed action and keep your cash in a positive position. We’ve signposted five key ways that data can improve your cashflow.
The 2025 Federal Budget was handed down on 25 March. Here's what it says.
Do you have direct debits and online payments set up to make it easy for your customers to pay you? Talk to us today about implementing online payment systems to reduce admin time, improve the accuracy of your accounts and get paid quicker.
Becoming the successor to the family business is an honour – but it can also be a daunting role to take on. We’ve summarised five of the core skills you need as the head of the business.
You may be ready to hand your family business onto the next generation. But what’s the best time to initiate this transition from one generation to the next. We have the lowdown.
The Aussie construction industry is facing a growing number of business failures. But don’t worry. We’ve set out seven key ways to keep your small construction business on track.
Happy Holidays to our valued clients. We wish you health, happiness, and new beginnings for the year ahead.
