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CHANGES TO DEDUCTIBILITY OF ATO GENERAL INTEREST CHARGE
CHANGES TO DEDUCTIBILITY OF ATO GENERAL INTEREST CHARGE Dear Valued Clients, We would like to advise you of an important change that may affect your 2026 tax position. As part of the government’s ongoing reform of tax law, the Australian Taxation Office (ATO) has announced that, effective as at 1 July 2025, the General Interest […]
Taxable Payments annual report expanded (TPAR)
Taxable Payments annual report expanded (TPAR) If your business makes payments to contractors or subcontractors, you may need to lodge a Taxable payments annual report (TPAR) by 28 August each year. The taxable payments reporting system aims to create a level playing field – to prevent dishonest operators from gaining an unfair advantage over the majority. The information we collect […]
Instant Asset Write Off Eligibility
Instant Asset Write Off Eligibility Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year the asset is first used or installed ready for use. Instant asset write-off can be used for: multiple assets if the cost of each individual asset is less than the […]
Covid -19 Government Grants
Covid -19 Government Grants As part of assisting those affected by Covid 19 shut downs the government introduced measures to assist those with little or no income during the Covid lockdowns. Some of these payments include JobKeeper and other measures Pandemic leave disaster payment COVID-19 Disaster Payments for people affected by restrictions Child care Transition […]
Single Touch Payroll and the Date Matching
Single Touch Payroll and the Date Matching The ATO introduced STP for all employers fazed in over the past two financial years. STP reports wages information to the ATO on a weekly/fortnightly or monthly basis as the employee is paid. It includes Gross Wages, Tax and Super liability. From 1 July 2021 all employees must […]
