Despite the talk before there is very little impact in this budget that will directly impact the processes and procedures for bookkeepers.
- TPAR will extend to the Cleaning and Courier industries starting 1 July 2018.
- Single Touch Payroll and SimplerBAS was allocated money to ensure that everyone gets told about them.
- Further money has been given to the ATO to pursue the cheats (“Level the playing field”)
- GST changes on precious metals and property settlements.
- Money allocated to the Digital Transformation Office to (finally) get some real progress on better Cyber Security (Including if we read between the lines...a replacement for Auskey)
- Tax cuts, Medicare up, Asset write off's continue
But just remember it isnt law yet.
Click here for the ICB extraction of what appears relevant to us and our industry.