Author: Dereen Wallace
ATO update on tax claims for NANE COVID-19 payments
According to new guidelines issued by the Australian Taxation Office, small businesses that pay accountants or bookkeepers to apply for tax-exempt COVID-19 grants on their behalf will not be able to claim tax relief for the service.
The ATO have extended the STP finalisation due date
Businesses have been given extra time to submit their Single Touch Payroll finalisation declaration this year as the ATO acknowledges the continuing impacts of COVID-19.
FBT 2021: Tax & Employee Benefits
Fringe benefits tax (FBT) is one of Australia’s most disliked taxes because it’s cumbersome and generates a lot of paperwork. The COVID-19 lockdowns have added another layer of complexity as many work patterns and behaviours changed.
JobKeeper: The Next Phase
The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible.
Company Tax Rate Reduction – 1 July 2020
The company tax rate is set to reduce to 26% for small and medium business from 1 July 2020 despite the current economic environment. The 1 July change is part of a larger progressive plan to reduce the company tax rate to 25% from 1 July 2021 and applies to base rate entities (BRE) – […]
Vacant land deduction changes hit ‘Mum & Dad’ property developments
The amendments are not only retrospective but go beyond purely vacant land.
How To Know If You Are Dealing With A Dodgy Tax Agent
In the 18/19 financial year, the tax office received more than 200 tip-offs about accountants who were making inaccurate claims for their clients.