June 21, 2022
Tax Time Targets
The ATO has flagged four priority areas this tax season where people are making mistakes. With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four…
May 25, 2022
Single Touch Payroll (Phase 2)
Recently the ATO has sent reminders to business owners who run a payroll system through Single Touch Payroll (STP). Since 1 January 2022 many businesses with a payroll system would…
May 18, 2022
What’s changing on 1 July 2022?
A series of reforms and changes will commence on 1 July 2022. For Business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5%…
May 18, 2022
Can I claim a tax deduction for my gym membership?
There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a…
May 18, 2022
Fuel tax credit changes
The Government have temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March…
May 18, 2022
ATO ramps up heat on directors
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee…
March 30, 2022
Australian Federal Budget 2022-2023 in review
The 2022-23 Federal Budget was announced by Federal Treasurer, Mr Josh Frydenberg, on 29th March 2022. Key Announcements: A $78 billion underlying cash deficit forecast for 2022-23, $20.9 billion better…
March 21, 2022
Are Your Contractors Really Employees?
Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume…
March 21, 2022
Immediate Deductions Extended
Temporary full expensing enables your business to fully expense the cost of: new depreciable assetsimprovements to existing eligible assets, andsecond hand assets in the first year of use. Introduced in…
