Melbourne AccountantMelbourne AccountantMelbourne Accountant
1300 NXT GEN (698 436)
9am to 9pm
VIC 3008

Taxation

17 Jun, 19

Superannuation guarantee contributions not payable for additional hours or public holidays

The Full Federal Court has held that superannuation guarantee contributions were not payable by an employer in respect of the “additional hours” and “public holidays” components of employees’ salaries since these components did not form part of “ordinary time earnings”. In doing so, it allowed the employer’s appeal against the primary judge’s decision reported at [2018] […]
Read more
17 Jun, 19

Payments made to subcontractors by cleaning services companies subject to payroll tax

The Supreme Court of NSW has concluded that the arrangements between the subcontractors and two companies providing specialised cleaning/housekeeping services were employment agency contracts within the meaning of s 37(1) of the Payroll Tax Act 2007 (NSW). Hence, it held that the payroll tax was correctly imposed on the amounts paid to the subcontractors “in relation to” the procurement […]
Read more
31 May, 19

Why you should keep record for Capital Gain Tax

You must keep records of every transaction, event or circumstance that may be relevant to working out whether you’ve made a capital gain or loss from a capital gains tax (CGT) event. Generally you need to keep your records for at least five years after the year when the CGT event happened. Keeping adequate records […]
Read more
31 May, 19

Work related deductions you can claim

When completing your tax return, you’re entitled to claim deductions for some expenses, most of which are directly related to earning your income. Work-related expenses To claim a work-related deduction: you must have spent the money yourself and weren’t reimbursed it must directly relate to earning your income you must have a record to prove it. If […]
Read more

Update on reporting of Contractors-from ATO

In the most recent Federal Budget, Government announced these three additional industries to lodge taxable payments reports with the ATO. Now you have to lodge a Taxable payments annual report (TPAR) by 28th August 2020 & then each year, if you are in the following business- road freight services information technology (IT) services security, investigation or surveillance services These […]
Read more
15 May, 19

Proposed changes for personal tax offsets

A new non-refundable personal tax offset is due to commence from 1 July 2018, in accordance with legislation passed in June 2018 (TLA (Personal Income Tax Plan) Act 2018). The Low and Middle Income Tax Offset, or LAMITO, provides taxpayers under $125,333 in taxable income between $0 and $530 in additional tax offsets. The base […]
Read more
15 May, 19

Checklist of tax changes taking effect in 2018/19

This checklist sets out significant changes that are scheduled to operate from the 2018/19 income year (with cross-references to the commentary in the Guide where they are discussed). Note that, in some cases, implementation of these changes may be dependent on the future passage of the necessary legislation. INDIVIDUALS The individual income tax rate thresholds […]
Read more
Translate »
HTML Snippets Powered By : XYZScripts.com