Current National Minimum rate is $16.87

The disposal of a capital asset in Australia, in the course of carrying on your business, is a taxable sale and you are required to account for GST on that sale. This applies even if the asset was purchased before 1 July 2000 or the asset is sold to an individual who is not in business (a private sale).

https://www.ato.gov.au/Business/GST/In-detail/Rules-for-specific-transactions/Business-asset-transactions/GST-and-the-disposal-of-capital-assets/

HELP repayments

If your RI is less than $53,345, you make nil HELP repayments in 2014-2015 financial year. The compulsory Help income threshold will decrease down from $53,345 to $50,638 from July 1, 2016 and repayments will start at 2% of RI.
Repayment income = TI + RFB + RSC + exempt FI + total Net investment losses inc. net rental loss. 
http://www.smh.com.au/business/federal-budget/radical-shakeup-to-university-funding-in-budget-will-see-some-fees-soar-20140513-3887c.html

9.5% Super Guarantee for 3 financial years

The good news is that our employers start paying 9.5% SG as from July 1, 2014. The bad news is that this percentage will be frozen for 3 consecutive financial years.

Temporary Budget Repair Levy of 2%

Temporary Budget Repair Levy of 2% is a three year additional levy which will apply on the part of personal taxable income which exceeds $180,000. Temporary Budget Repair Levy will apply from July 1, 2014 and to the 2014-15, 2015-16 and 2016-17 financial years. 
https://www.ato.gov.au/general/new-legislation/in-detail/direct-taxes/income-tax-for-individuals/temporary-budget-repair-levy/ 

NMETO

From July 1, 2019 Net Medical Expenses Tax Offset (NMETO) will be repealed. Disability aid claims, attendant care and aged care expenses claims can be made until June 30, 2019. Otherwise, claims can be made in 2013-2014 Fin Year only if a taxpayer made a claim in 2012-2013; and claims can be made in 2014-2015 Fin Year only if a taxpayer made a claim in 2013-2014.
Claims thresholds are revised after March 31 each year.

local government act

Local government is the third level of government in Australia. It was established by an Act of state parliament.
In Victoria, local government is made up of 79 councils representing over 5.5 million people. Councils are area-based, representative governments with a legislative and electoral mandate to manage local issues and plan for the community’s needs.
Each council varies in size, population, rate base and resources, but all must operate in accordance with the Local Government Act 1989.
Local government is responsible for implementing many diverse programs, policies and regulations set by the Victorian and Australian governments. Councils also have to respond to local community needs. They have powers to set their own regulations and by-laws, and provide a range of services. Local laws developed by councils deal with important community safety, and peace and order issues.
Local laws often apply to noise, fire hazards, abandoned vehicles, parking permits, street stalls, disabled parking, furniture on footpaths, graffiti, burning off, animals in public spaces and nuisance pets.

Reporting obligations

Under Victorian legislation, councils must develop a council plan, strategic resource plan, annual budget and annual report.
The council plan specifies the council’s major goals. A strategic resource plan identifies the resources required to achieve the goals outlined in the council plan.
The annual budget delivers a single year’s financial resources to achieve council plan goals. Councils release draft budgets to consult with communities about the priority expenditure needs.
The annual report includes the council’s financial statements. Reports are independently audited by the Victorian auditor general.
Some important financial indicators used to measure financial performance include whether:

•  a surplus or deficit is delivered 
• there is enough cash to pay for immediate liabilities 
• debt redemption expenses and debt are excessive, relative to own-source revenue 
• a budgeted capital works program is delivered 
•  assets are adequately valued, which will directly affect depreciation.

A copy of the council’s Annual Report must be submitted to the Minister within three months of the end of each financial year. The report should be sent to (check this link): Municipal Association of Victoria

Medicare levy increase to 2%

Medicare levy has increased from 1.5% to 2% this year. And MyGov account is crap, I haven't had problems creating it but linking services was a real pain. It might be because of the year beginning or too many people logged in. Anyway, I have just lodged my Tax Return for this fin year.

Stop forcing Ukraine into a narrative of Moscow versus Washington

The Guardian, by Oliver Bullough, Tuesday 20 May 2014
Anyone who tells you Ukraine is a battle between Russia and the west is wrong. It is a lazy narrative told by ignorant people, but is helping create a genuine tragedy that we should all be concerned about.
The history of Ukraine's crisis began not in February, with Viktor Yanukovych's flight, but in 1991, with independence. Desperate to break communism, privatisers sold state assets as quickly as they could. They didn't care who got them; they just wanted private property to exist. They thought the new owners would insist on their rights, and thus build a stable society, governed by the rule of law.
It was the west that killed that dream. By moving their wealth offshore – to Austria, the Caribbean or the various UK-owned tax havens – Ukraine's property owners could enjoy western property rights, while benefiting from chaos at home. That turned the privatisers' calculations on their head.
Insiders snatched Ukraine's industries, with particularly powerful business clans in the cities of Donetsk and Dnepropetrovsk. They fought for control of the government in Kiev, but all had the same basic interest: to perpetuate chaos. The longer Ukraine was a mess, the richer they got.

Tax havens

The main feature of an offshore jurisdiction is a tax policy favorable to foreign investment. But it is far from the only one. There are several additional features that make a country to pass from being considered a simple low-tax country to a real tax haven.

1. Personal data of owners and shareholders of companies are not listed in public records, or the use of formal representatives (called nominees) is allowed.
2. There are strict rules on bank secrecy. Data about account holders are only available to the authorities if there is evidence of serious crimes such as terrorism or drug trafficking.
3. Signing treaties with other countries involving exchanges of banking or tax information is avoided. Although this situation is changing in recent years.
4. Stability and monetary policy are promoted. Who would invest in a place with continuous coups d'état, wars or rampant inflation?
5. They have an excellent range of legal, accounting and tax advice services.
6. They often have good tourist and transportation infrastructure.

Countries such as Switzerland, Cyprus and Latvia, for example, have been highlighted for their strict bank secrecy laws. Another example is Ireland, which offers significant tax benefits for artists (writers, singers…).http://www.taxhavensguide.com/offshore.php