ATO warns of rental property tax pitfalls
This tax time, the ATO is again closely monitoring claims in relation to rental properties. The ATO has data-matching programs in place that collect …
Budget 2021 -Tax Compliance
Allowing small businesses to pause disputed ATO debt recovery The Government will introduce legislation to allow small businesses to pause or modify …
Budget 2021 – Business Tax
Temporary full expensing: extended to 30 June 2023 The Government will extend the temporary full expensing measure until 30 June 2023. It was …
Budget 2021 – Superannuation
Superannuation contributions work test to be repealed from 1 July 2022 The superannuation contributions work test exemption will be repealed for …
Budget 2021 – Personal Tax
Personal tax rates unchanged for 2021–2022 In the Budget, the Government did not announce any personal tax rates changes, having already brought …
Life Insurance in Super: costs on the way up?
Having insurance through superannuation can be a tax-effective and cost-effective way of protecting yourself and your loved ones. Most funds offer …
ATO Reminder: Lodge your TPAR
The ATO is reminding owners of businesses that provide various services to lodge their taxable payments annual report (TPAR) for the 2019–2020 income …
It’s time to consider FBT
If your business has provided any benefits to your employees, you may be liable for fringe benefits tax (FBT). This includes benefits to current, …
Closely held payees: STP options for small employers
Small employers with closely held payees have been exempt from reporting these payees through single touch payroll (STP) for the 2019–2020 and …
Your Future, Your Super legislative changes
The Treasury Laws Amendment (Your Future, Your Super) Bill 2021 has been introduced to Parliament to implement some of the “Your Future, Your Super” …
Tax implications of having more than one job
With insecure, contract and casual work becoming increasingly common, particularly in the current COVID-19 affected economy, it’s no surprise that …