Annual Tax Time Newsletter 2023

Annual Tax Time Newsletter 2022

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…

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…

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…

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…

ATO Superannuation Compliance

ATO Superannuation Compliance (extract from the ATO 16 January 2019) Paying superannuation to your employees is an important part of being an employer. We are here to assist in meeting your obligations but the ATO are keeping a better…

Rental Property investors to lose out from proposed budget changes

Rental Property investors to lose out from proposed budget changes May 2017 The 2017 Federal Budget, handed down by Treasurer Scott Morrison on Tuesday night, 9th May at 7:30pm AEST includes proposed changes which will affect residential…

Novated leases and the deductibility of after-tax running costs

Article provided by Tax & Super Australia Including a car in a salary package is a popular remuneration arrangement, and doing so as part of a salary sacrifice package will often give rise the a “novated lease”.  Costs in operating…

Substantiation for mobile, home phone and internet costs

Provided by Tax & Super Australia The ATO has issued guidance on making claims for mobile phone use as well as home phone and internet expenses. Substantiation for mobile, home phone and internet costs It says that if a client uses…