Author: Emily Kermac

Small Business

Fuel Tax Credit Rates Have Increased

These rates regularly change, typically in February and August, in line with fuel excise indexation and the consumer price index (CPI).

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Small Business, Tax

Claiming Car Expenses: Cents Per Km or Logbook Method?

From 1 July 2015, the ATO reduced your options for claiming car expenses down to two methods.

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Tax

Important Tax Dates: May 2019

May 21 – April Monthly Instalment Activity Statement (IAS) due
May 26 – March Quarterly Business Activity Statement (BAS) due, if lodging through a BAS or tax agent

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Tax

Important Tax Dates: April 2019

April 21 – March Monthly Instalment Activity Statement (IAS) due
April 28 – March Quarterly Business Activity Statement (BAS) due, if self-lodging

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Instructional Videos

Cents Per Km or Logbook Method?

Which method for car claiming is best for you?

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Small Business Tax Advice, Tax

ATO Increases Home Office Expenses Rate

Small businesses and taxpayers who run their office from their home will now be able to claim a larger rate for their running expenses.

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Tax

Important Tax Dates: March 2019

March 21 – February Monthly Instalment Activity Statement (IAS) due
March 31 – Tax Return due for individuals/trusts with prior year tax liability of >$20k

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Community, Strategic Financial Advice, Tax

Phoenix Activity Results In Stricter Tax Monitoring

According to reports in July 2018, phoenix companies caused a $5 billion loss to Australia – through unpaid trade creditors, unpaid entitlements to employees, and unpaid tax and compliance costs to the government.

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Tax

Important Tax Dates: February 2019

February 21 – December Quarterly Business Activity Statement due
February 21 – January Monthly Instalment Activity Statement (IAS) due
February 28 – Tax Return Lodgement due for new SMSFs
February 28 – Tax Return Lodgement due for new medium/large entities

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Tax

Tax On Shares: ATO Extends Data Matching Program

The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.

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Community, Tax

The Rules For GST And Food

Navigating the world of food and GST can be like weaving through a maze. A delicious maze, albeit.

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Tax

Important Tax Dates: January 2019

January 15 – Tax Return Lodgement due for medium/large entities
January 21 – December Monthly Instalment Activity Statement (IAS) due
January 28 – December Quarterly Superannuation Guarantee Contribution due

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