Work from home expenses: New rate
A new revised fixed-rate method for calculating WFH expenses will apply from 1 July 2022 onwards.
Tax records education direction now in place
The ATO can now issue a tax-records education direction where the Commissioner reasonably believes that there has been a failure to comply with one or more specified record-keeping obligations under tax law.
Objective of superannuation proposal
In conjunction with recently announced changes to target superannuation tax concessions for those with balances of more than $3m, the government has also announced the intention to legislate an objective of superannuation.
ATO warning: Access company profits tax-free scheme
A Taxpayer Alert has been issued by the ATO warning taxpayers to avoid arrangements where an individual accesses the profits of a private company tax-free through the use of an interposed holding company.
Is super life insurance worth having?
For many Australians, opting for the default life insurance offered by your super fund has always been a no brainer.
How to make your wages go further
Pay day arrives and by the time your rent and bills get allocated, it sometimes feels like you’re not getting anywhere fast.
What can you deduct when travelling for work?
Travelling for work has been off the agenda, thanks to COVID-19, but with the vaccine rollout and community transmission at an all-time low, domestic business travel is growing in popularity.
ATO using data matching for vehicle registrations
If there was time to play it by the rules when it comes to what you can and can’t claim on tax, it’s now.
What are my tax obligations if I have more than one job?
It’s not unusual for individuals to have more than one job particularly due to the COVID economy.
Does your small home business need to upgrade to Single Touch Payroll?
The clock is ticking and it’s time to get ready for the 2021 switch over to STP.
How is tax calculated when selling shares?
Are you ready to sell shares but you are unsure of how much tax you will need to pay?
DIN: Australia introduces director identification numbers as law
A director identification number (DIN) is a unique identifier that will be assigned to each person who is or becomes a director of an Australian business.
Can I change business structures?
Changing business structures may not be straightforward, but don’t let that put you off.
How can my business benefit from JobMaker?
For many Australians, opting for the default life insurance offered by your super fund has always been a no brainer.
Can my business claim government stimulus packages?
Due to the global pandemic, there are stimulus packages and some tax deductions available for sole traders and companies
Take advantage of your carry forward cap
Did you know that you can boost your super savings by using the unused carry forward concessional contributions cap?
What work-related car expenses can employees claim?
For many Australians, opting for the default life insurance offered by your super fund has always been a no brainer.
Do I need to pay super to independent contractors?
Knowing when you need to pay super for employees can be tricky if you have staff hired as independent contractors
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