2004/05 Key Tax Changes

End of financial year tax help & tax tips - 2004/05 key tax changes

  • From1 July 2005 – Super surcharge abolished. 2004/05 surcharge rate reduced to 12.5%.
  • Choice of superannuation fund starts. 
  • The Government co-contribution matching rate in 2004/05 is $1.50 for each $1 of employee contribution, up to maximum of $1,500. 
  • Stamp Duty: From 1 June 2004, unpopular vendor duty of 2.25% introduced. In recent State Budget, this tax is to remain. 
  • Land Tax - New tax rates and abolition of the tax-free threshold and abolition of the premium property tax. For 2006 land tax year – reinstatement of the tax-free threshold. No tax up to $330,000. 

JH Business Services & Taxation
Accounting | Business Advisory | Tax Services
Specialist in small to medium business 
& personal tax services

Norwest Office

 Suite 205
29-31 Lexington Drive
Bella Vista
NSW 2153