Budget Highlight 2018
Our Tax Highlight – Issue 26
The Budget 2018 claims to be the best annual expenditure ever tabled by the federal government by our Prime Minister. Many think is a fair and non-election Budget while others may think otherwise. Nonetheless, what are the impact and changes to us, the accountants and practitioners? Below are some of the salient points of Budget 2018:-
1. Harmonising GST treatment for magazine, journals, periodicals and comics
2. Value of taxable supply in relation to GST deregistration
3. GST Act changes on non-GST registrant
4. 2% Reduction in individual income tax bands
5. 50% tax exemption on rental income
6. ICT Accelerated Capital Allowance for Businesses
7. Implementation of Earning Stripping Rules to replace Thin Capitalisation Rules on control cross-border interest expense
8. Extension of Tax Incentives
9. RPGT changes for non-citizens
Please check out of our full text below to know more. We hope you will benefit from this highlight and please like us or share it to your friends. Let us grow and prosper together =)
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