Insight

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New Financial Year

July 1 is fast approaching…here are some of the changes that we find interesting rather than anxiety inducing! 1. Power prices to drop- good news for NSW where both residential and business electricity prices are due to decrease by 0.2% 2. Plastic bag ban- Single use plastic bags will be banned in QLD and WA (all other states have already implemented these bans EXCEPT NSW) 3. No passport glasses- Glasses will no longer be allowed in passport photos due to their adverse impact on facial matching. 4. Online shopping tax- The governments new GST laws come into effect on July 1st The GST laws will require businesses with annual turnover of greater than $75,000 to collect GST on purchases under

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