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…

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…

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…

Rarely does anyone look forward to tax time, but this year, scammers have added an additional thorn in the side to the annual tariff. According to the Australian Tax Office (ATO), scammers have stepped up their game for 2017, looking for any way to get their hands on your hard-earned dollars. Tax Scams Have Increased…

As a taxpayer, it is important that you stay up to date on any changes that are released by the Australian Taxation Office. Changes and updates could affect you, your tax debt and your assets. It is our goal to keep you well-informed on the most current updates from the ATO. In the midst of…

Here at Pherrus Financial Services, tax is our business, so naturally we always strive to stay completely up to date when it comes to any new developments in the financial world, especially with regard to the ATO (Australian Taxation Office). Since this can affect your personal finances, we’re also committed to sharing any relevant information…

Here at Pherrus Financial Services, we’re always looking out for our clients, and when it comes to your finances we keep a close eye on any events that may be a potential worry to you. One such concern that has recently surfaced is as scam email from someone pretending to be the ATO (Australian Taxation…

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