Taxation

17 Jun, 20

Accessing your income statement or payment summary

Source: https://www.ato.gov.au/ How you get your end of financial year information from your employer showing your earnings for the year (also known as an income statement or payment summary) depends on how your employer reports your income, tax and super information to us. You will be provided with either: an income statement – if your […]

17 Jun, 20

Claiming mobile phone, internet and home phone expenses

Source: https://www.ato.gov.au/ If you use your own phone or internet for work purposes, you may be able to claim a deduction if all of the following conditions apply: you spent the money yourself the expense is directly related to earning your income you must have a record to prove it. You can’t claim a deduction […]

17 Jun, 20

Tax tips: How the coronavirus can help you get a larger refund

Source: https://thenewdaily.com.au/ The coronavirus pandemic has shifted the way we conduct our personal finances, and with June creeping up, tax time is no exception. Strict social distancing measures have forced millions of Australians to work from home for the first time, throwing up a raft of new deductions. Mozo.com.au consumer advocate Tom Godfrey told The New […]

28 Apr, 20

Employers’ frequently asked JobKeeper questions

Source: https://www.ato.gov.au/ General Question: What’s the difference between JobKeeper and JobSeeker? Answer: The JobKeeper scheme supports businesses to retain their employees by contributing to their salary and wages and is administered by the ATO. Eligible businesses are required to register with the ATO to receive these payments for their eligible employees. JobSeeker payments are a form of […]

20 Apr, 20

ATO tax return: Tax Office reveals new working from home expenses rules

Source : https://www.news.com.au/ The tax office has announced special arrangements this year – and it affects everyone working from home due to the coronavirus crisis. The Australian Taxation Office has made a major change this year as a result of the ongoing COVID-19 pandemic. With countless Australians now working form home in a bid to […]

23 Mar, 20

Government announces a $66 billion second coronavirus stimulus: What’s available to small businesses, and how do I claim it?

Source: https://www.smartcompany.com.au/ Just 10 days after announcing its coronavirus stimulus package, the Morrison government has released a second, beefed-up and more robust version. The new $66.1 billion economic plan bolsters the measures of the first $17.6 billion pledge and is intended to help small businesses stay afloat, and keep people employed until the coronavirus-related economic downturn has […]

23 Mar, 20

Victorian government to refund payroll tax and establish business support fund in $1.7 billion response to COVID-19

The Victorian government will begin refunding payroll tax payments to small and medium businesses across the state this week as part of its $1.7 billion economic stimulus package in response to the COVID-19 pandemic. Victorian Premier Daniel Andrews and Treasurer Tim Pallas outlined the measures on Saturday in what they said is a stimulus package […]

10 Sep, 19

Remote area tax concessions and payments should be overhauled

The Productivity Commission has called for significant reforms to the tax concessions and payments for residents and businesses in remote Australia as they are “outdated, inequitable and poorly designed”. Its draft report assessed the zone tax offset (ZTO), the remote area allowance (RAA) and the fringe benefits tax (FBT) remote area concessions. The Commission recommended the abolition […]

31 Aug, 19

Vacant land expenses no longer deductible in “build-to-rent” investments

Starting from 1 July 2019, individuals who hold vacant land may not be entitled to claim those costs as an allowable deduction. Prior to this, claiming tax deductions for holding vacant land was available in certain circumstances. An example of this may have been during the construction phase of a development when no income was […]

17 Jun, 19

Changes to payment summaries , income statements are here

How you get your end of financial year information from your employer showing your earnings for the year (also known as a payment summary or income statement) depends on how your employer reports your income, tax and super information to us. You will be provided with either: An income statement – if your employer reports […]

Accessing your income statement or payment summary

Claiming mobile phone, internet and home phone expenses

Tax tips: How the coronavirus can help you get a larger refund

Employers’ frequently asked JobKeeper questions

ATO tax return: Tax Office reveals new working from home expenses rules

Government announces a $66 billion second coronavirus stimulus: What’s available to small businesses, and how do I claim it?

Victorian government to refund payroll tax and establish business support fund in $1.7 billion response to COVID-19

Remote area tax concessions and payments should be overhauled

Vacant land expenses no longer deductible in “build-to-rent” investments

Changes to payment summaries , income statements are here

Looking for Trusted Business Advisor and Accountants ?

Newsletter

Open Hours: