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Advice

 

Labor’s tax and superannuation policies

As we approach the inevitable but as yet unannounced 2019 Federal Election, Australians are starting to consider policies of the major parties, and we are particularly interested in the policies related to tax and superannuation.

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Surprise ATO visits to Tasmanian businesses & information sessions

Up to 500 Tasmanian small businesses can expect a surprise visit from the ATO during March 2019, in particular those that advertise as being ‘cash only’ or those that operate outside of the ATO’s performance benchmarks, with certain industries more at risk of such visits than others.

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NEWSFLASH: Single Touch Payroll extended to small employers!

After a long period of uncertainty, the legislation extending the electronic Single Touch Payroll (STP) reporting regime to employers with 19 or fewer employees was agreed to by the Senate on 5 December 2018.

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Scam warning! Fake ‘ATO’ callers threaten arrest over ‘unpaid tax debts’

We have been alerted to an increased incidence of phone calls from scammers claiming to be Australian Tax Office (‘ATO’) representatives. Whilst this is not a new scam, holiday season is a high risk period and people tend to let their guard down at this time of the year.

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Christmas Parties and Gifts

With the festive season fast approaching it is a good time to revisit the Fringe Benefits Tax (FBT), GST and income tax implications associated with the holiday season, in particular the Christmas functions and gifts that businesses may provide to staff and clients at this time of the year.

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Newsflash: the Government passes the $20,000 asset write-off extension

The legislation extending the $20,000 immediate asset write-off for another year to 30 June 2019 has finally passed both Houses after having been introduced into Parliament in May, following the Federal Budget announcement.

The immediate asset write-off is available for small businesses with aggregated annual turnover under $10 million. Small…

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Travel to inspect residential rental properties

From 1 July 2017, unless one of the exclusions listed below applies, travel expenses incurred in relation to residential rental premises will no longer be deductible, and these expenses will not be added to the cost base of the property for capital gains tax (CGT) purposes either. Effectively, these…

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Changes for foreign residents who own Australian residential property

As part of the package of measures aimed at addressing the housing affordability crisis, the Government also introduced two new measures directed at foreign residents who own Australian residential property.

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