What’s new in the 2014 Tax Year End Edition? Up-to-date: 30 June 2014.

All of the government’s 2014-15 Budget measures incorporated into the commentary.

• A three year temporary levy of 2% will be imposed on individuals’ taxable income in excess of $180,000 pa, from 1 July 2014 until 30 June 2017. This includes consequential changes for other tax rates, including FBT.
• For any excess superannuation contributions made after 1 July 2013 breaching the non-concessional cap, the government will allow individuals to withdraw those excess contributions and associated earnings. 
• The government will change the schedule for increasing the superannuation guarantee rate to 12%.

Since 1970, practitioners all over the country have relied on the Australian Master Tax Guide as their leading tax reference. The guide is designed to help practitioners, businesses and organisations quickly locate accurate answers to their tax questions.

Whether it is being used to help prepare tax returns for the current tax year or to work out the tax issues and implications of decisions and transactions in the immediate future years, the Australian Master Tax Guide is an essential resource for anyone working in or dealing with tax.