Blogs

Special Pherrus Federal Budget 2018-19 Review The federal budget has been outlined for 2018-19. This year’s Budget highlights a mix of some 37 measures. What are the need to knows? Here are the Big Ones –       Personal Income Tax Relief – there will be an immediate offset for low to middle income earners. Further relief…

Starting from the 1st July 2018, the changes to GST exemption mean that all online goods bought from overseas will now carry a 10% goods and services tax. The previous rules meant that all goods worth less than $1,000 were exempt from the GST, but that is no longer the case. Goods becoming more expensive…

If you have invested in Bitcoin or other cryptocurrencies, you need to stay ahead of some changes which are coming from the Australian Tax Office. The ATO is keen to crack down on cryptocurrencies to ensure that investors are paying taxes on their earnings. New crackdown initiative The ATO has a number of different ways…

Should you provide workers compensation insurance for your employees? There might be a few more benefits than you expect. First, let’s look at what this type of insurance entails, and then why you should already have a scheme in place. What is workers compensation insurance? This type of insurance will pay out if one of…

If you haven’t yet heard about Single Touch Payroll, you may need to conduct a quick headcount to determine if your business needs to comply. What is Single Touch Payroll? Single Touch Payroll (STP) aligns your reporting obligations to your payroll processes. Your business will be required to report to the ATO each time you pay…

Pherrus Financial understands the importance of giving back and supporting communities in need. Our team of dedicated staff and volunteers provide support to children in need, both in Fiji and here at home. In 2017, thanks to your contributions one of our charitable teams, located in Fiji, was able to deliver Christmas to the Dilkusha…

Chris Jordan, Australia’s Tax Commissioner, has warned that the Australian Tax Office (ATO) is about to crack down on people claiming work-related expenses. Jordan stated that a recent check into work-related expenses has uncovered a large number of wrongful claims. He also warned that 100% of the claims that were taken before the Administrative Appeals…

The Turnbull government has flagged personal income tax cuts as part of this year’s budget. Back in November, Prime Minister Malcolm Turnbull had declared as part of his pre-election speech that any tax cuts would be aimed at the low and middle classes. Now, with the budget submission released in late February, Turnbull seems to…

As Sydney’s leading business tax advisors, financial agents and advisors, we helped Katrina, a spiritual intuitive and a healer, to establish her own successful business in July this year. We were able to advise Katrina on becoming a sole trader, registering her initial business name and provide all the relevant tax strategies and ATO audit…

Self-managed superannuation funds provide many people with the opportunity to not only acquire new assets but also to do it safely using a percentage of the money they put into the fund. However, managing a superannuation fund requires a lot of time and effort to succeed. It is important to realise that a significant amount…

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