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With the real estate market hotting up for another year, many home buyers will turn their thoughts to newly constructed residential premises or subdivisions, but a recent Bill introduced may increase the costs and complexity of such purchases.

The government plans to give companies greater access to prior year tax losses in a bid to stimulate business innovation. A new alternative to the “same business test” – the “similar business test” – will make it easier for companies that have experienced a significant change in ownership or control to carry forward their losses. While this will provide greater flexibility, companies will need to carefully weigh up a range of factors to determine whether they meet the test.

The qualifying age to receive a genuine redundancy payment has recently been increased to the age pension age, so even if you’re over 65 you may still be able to receive the payment.