News headlines recently stated that casual workers have won the right to paid leave following a decision in the Federal Court. As usual, the devil is in the detail. At present, there is no global change granting Australian casual workers paid leave. The case however, highlights the long runni...
Read MoreHave casual workers been granted annual leave?
Wednesday, June 10, 2020
The ATO’s JobKeeper audit targets
Wednesday, June 10, 2020
The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation
Office (ATO) released guidance highlighting where the regulator will focus its compliance resources.
The JobKeeper estimates err...
Read More
The JobKeeper subsidy has progressed beyond the rush for eligibility and entered its second phase: compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will focus its compliance resources. The JobKeeper estimates err...
Read MoreWhat’s changing on 1 July?
Wednesday, June 10, 2020
Company tax rate reduces to 26% for base rate entities
$150k instant asset write-off scheduled to reduce back to $1,000 for small business entities and will no longer be available for entities with aggregated
annual turnover of $10m or more (an extension is still to be legislated...
Read More
Company tax rate reduces to 26% for base rate entities $150k instant asset write-off scheduled to reduce back to $1,000 for small business entities and will no longer be available for entities with aggregated annual turnover of $10m or more (an extension is still to be legislated...
Read MoreHow to get your payroll right
Tuesday, March 10, 2020
A series of high-profile examples of businesses underpaying their employees has brought the need to get payroll right into sharp focus.
Complex award and enterprise agreements can complicate payroll obligations, in terms of both regular salary and wages and the ongoing need to pay employee
su...
Read More
A series of high-profile examples of businesses underpaying their employees has brought the need to get payroll right into sharp focus. Complex award and enterprise agreements can complicate payroll obligations, in terms of both regular salary and wages and the ongoing need to pay employee su...
Read MoreFBT hot spots
Tuesday, March 10, 2020
With the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position.
The ATO’s top FBT problem areas
Motor vehicle fringe benefits - fail...
Read More
With the start of the Fringe Benefits Tax year looming on 1 April, businesses are being urged to review their Fringe Benefits Tax (FBT) position. The ATO’s top FBT problem areas Motor vehicle fringe benefits - fail...
Read MoreSurviving a Crisis: Coronavirus and Beyond
Tuesday, March 10, 2020
Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses.
Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian
and globa...
Read More
Empty restaurants and retail stores were one of the first signs of the devastating impact the coronavirus on Australian businesses. Within a few months, the virus, now called COVID-19, has gone from being a largely unknown medical condition to one that threatens to impair Australian and globa...
Read MoreAlerts to protect SMSFs from fraud
Monday, February 03, 2020
A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes
are made to bank details, electronic service address of the fund, the authorised contact and members.
Trustees need to notify the ATO w...
Read More
A new system alerting SMSF trustees of changes made to their SMSF will roll out this month. The ATO will alert trustees by text and/or email when changes are made to bank details, electronic service address of the fund, the authorised contact and members. Trustees need to notify the ATO w...
Read MoreATO targets ‘lifestyle’ assets
Monday, February 03, 2020
The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.
The review, expected to impact 350,000 taxpayers, reaches from the 2015-16 to 2019-20 financial years, revealing assets that previously may not...
Read More
The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts. The review, expected to impact 350,000 taxpayers, reaches from the 2015-16 to 2019-20 financial years, revealing assets that previously may not...
Read MoreBushfire support and assistance
Monday, February 03, 2020
Ten million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way
off this summer. We summarise the help available to those impacted by the bushfires.
Tax relief
Approximately 3.5 million businesses, individu...
Read More
Ten million hectares, lives lost, wildlife on the brink, billions in lost revenue and clean-up costs. For many, returning life to normal is a long way off this summer. We summarise the help available to those impacted by the bushfires. Tax relief Approximately 3.5 million businesses, individu...
Read MoreCGT and the family home: expats and foreigners excluded from tax exemption
Monday, February 03, 2020
Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas.
Key points
...
Read More
Late last year, legislative changes were made that exclude non-residents from accessing the main residence exemption. The retrospective changes directly impact foreigners and expats whose main residence is in Australia or overseas. Key points ...
Read More