Claiming car-related expenses as tax deductions might seem like the easiest way to get a larger return – but it’s also one of the most carefully monitored. Here are a few tips on what you need to watch out for when claiming car-related deductions.
Crypto may seem like just another form of money to you, but to the Australian Taxation Office (ATO), it certainly isn’t.
The ability to electronically sign various documents has never been more important than it is in the midst of a pandemic.
On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025.
From the Federal Budget there have been many changes to superannuation and SMSFs. Most of these changes are positive if you are someone who puts money into super.
With there being so many changes to tax as presented in the Federal Budget, this is a concise summary of those that may have the biggest impact or relevance to our clients:
It is important to note that, upon reading the papers summarising the budget, there are two things that we look towards.
Australians are taxed on their worldwide income, which must be declared in their tax returns.
The ATO has identified scenarios where Single Touch Payroll (STP) reporting is no longer necessary for some small businesses.
As with the original JobKeeper, the Commissioner has released a number of alternative tests.
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