tax

10 Jun, 21

Things That You Need To Do Before Filing The Tax Return On 30th June

At the end of the financial year, you have to file a tax return. But it is when you have got some time till the 30th June so you can think about filing it. There are few things that a person has to consider before filing the tax return so that you can increase your […]

20 Jan, 21

Returning native Australians warned for hefty tax traps

Many of the Australian migrants are waiting to return home in this coronavirus pandemic, this has been urged to give a though that their respective tax affairs need to be considered to avoid hefty tax bill on return. According to the Accounts NextGen, it is believed that Australians have to be given consideration towards a range […]

08 Oct, 20

The budget of 2020: Are you a winner or loser

This situation is quite tough for a treasurer to deliver the budget for a country. As the country’s economy is in the worst-hit state in the last 30 years and it is not fixed when this pandemic is going to end. But the treasurer Josh Frydenberg has unveiled the budget for this year and he […]

18 Sep, 20

Tax office to punish people engaged in fraudulent activities to save tax

In a recent press release, the taxation office of Australia said that it will punish the people doing super withdrawals to minimize the payable tax. The taxation office said that there is a certain loophole that enables people to avoid the payment of personal income taxes. And the office is about to punish all such […]

31 Jul, 20

Save yourselves from high costs by avoiding these tax return mistakes: Recommendation by the ATO.

Australian Taxation Office came up with some essential recommendations after noticing the blunders committed by many taxpayers and have paid the high cost for it. With the Covid-19 outbreak affecting the normal life and pocket adversely, the new financial year 2020-21 immediately experienced early tax return filing, application for superannuation, and many government programs. The […]

16 Jul, 20

Understanding Tax Deductions for Charitable Giving

If you also follow charitable giving, and amid this hard time, if you are also coming ahead to help people who are unable to deal with the current situation, you must understand Tax deductions. It’ll not just assist you in trimming down the excessive tax burden from your shoulder; indeed, it may encourage you to […]

11 Jul, 20

Some Essential Tips for End of Financial Year and Reminder for 2020

2020 is the most challenging time for everyone, including business owners too. This pandemic attack and business crisis make tax planning for the EOFY more crucial than the previous year. There are many keys and obligations that every business entrepreneur needs to know to minimise the tax flow. Some may have opted for manual listing […]

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 […]

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 […]

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 […]