This year the ATO has developed fact sheets to help small businesses in claiming three of the most common expenses: Motor vehicle expenses Travel expenses Home based expenses We recommend, if you are running a businesses, that you
ATO ‘hit list’ for individuals in 2019
The first thing to remember when claiming work related deductions is that to be deductible, they must relate to the job you are being paid to do. In addition to this, you need to be able to substantiate your claim by way of invoice, receipt or bank
Low and middle income tax offset now law
Below is a table showing the amount of rebate that you may be entitled to: From the 2018-19 income year: The low and middle income tax offset increases from a maximum amount of $530 to $1,080 per annum and the base amount increases from $200
Single Touch Payroll – it’s almost here!
We have featured Single Touch Payroll (STP) in many of our past newsletters. With only a week or so to go, we hope you are ready. For those who still don't know what it's all about, you might like to watch our video presentation and peruse the
Are you eligible for an Australian Business Number?
Over the years, the ATO have tightened up the eligibility for owing an ABN. When the ABN system was established it was meant for Australian businesses. Sounds pretty obvious doesn't it! Over the years it has been abused though and many
Superannuation and contractors
This is probably one of the most common areas of taxation, superannuation and employment law that is handled incorrectly by contractors/employers. There are quite specific rules whereby a contractor is considered an employee for superannuation
Single Touch Payroll – it’s coming quickly!
Last week a number of our clients attended our STP Seminar held at Gymea Tradies. Hopefully they are a little better informed about this major change that is fast approaching. It was also a nice chance to catch up with some clients who sometimes we
Paying Super before 30th June
Now that the election is over, there is status quo in the existing superannuation laws. Maximum concessional contributions (i.e. tax deductible ones) for 2019 are $25,000. This is made up of: Employer contributions Salary Sacrifice
Scam email – warning
Recently I received an email - apparently from Stephen Mason (my employer) stating the following: From: Stephen Mason To: Patricia Glenn Subject: Update "I need to update my pay check direct deposit info.'' To which I replied: "Did you
Another disputed SMSF death benefit claim…
A recent case in the Supreme Court of Victoria (Marsella v Wareham) recently made a ruling that on the surface offers some balance to the role of a surviving trustee of a self managed super fund (SMSF). The previous famous case of Katz v Grassman
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