Trending
What the extension of JobKeeper payments means for you In June 2020, the Australian Government announced they will be extending the JobKeeper payment for eligible businesses and not-for-profits until the 28 March 2021. Originally, the payment was set to run until the 27 September 2020. Priority for this extended support will be given to not-for-profits…
We often see the abbreviation Pty Ltd tacked on the end of the names of many companies. We can probably say with some confidence that most people don’t give those six little letters a second thought, if they ever notice them at all. As a business owner, however, this small collection of letters can have…
Although some of the restrictions imposed due to the pandemic have now eased, many businesses are continuing to face significant financial hardship. For some, this means there are difficult decisions to be made regarding taking on new staff and/or retaining existing staff members. Apprentices and trainees are particularly vulnerable: not only are employers reluctantly considering…
At the beginning of each financial year, the Australian Taxation Office (ATO) announces a Tax Ruling. This outlines any changes made to the effective lives of assets – typically plant, equipment, and commercial property assets. This year, however, in tax ruling (TR) 2019/5, the ATO detailed several changes to residential property assets. These changes are…
Claiming deductions for personal super contributions Have you made personal super contributions in the last financial year? You may be eligible to claim a tax deduction. In this article, we’ll discuss your eligibility to claim tax deductions, as well as how to make a claim. Let’s jump right into it. What kind of superannuation contributions…
Do you ever wonder if you’re missing out on valuable tax deductions when contributing to your super? Or perhaps you’ve made a personal contribution but aren’t sure whether you can actually claim it? With updated contribution caps and superannuation rules changing in the 2025–26 financial year, many Australians risk paying extra tax or losing legitimate…
Federal Court Upholds Tax Credit, Despite Non Reporting of PAYG Withheld Amounts It is commonly understood that all PAYG amounts classed as “withheld” from the salary or wages of a taxpayer, must be reported to the ATO. This is a standard element of tax compliance, and is something that the vast majority of Australian tax…
Clarifying ATO Garnishee Notices: Federal Court Rules Out Tax-Related Liability for Non-Compliant Entities It will come as no surprise that the ATO takes overdue tax payments very seriously. Because of this, the tax office is afforded certain legal rights which enable their officers to follow up missed payments, and to collect them in full from…
We have recently been hearing more about a new Scam Alert with callers imitating the Australian Tax Office in an unprecedented way. The Scam goes something like this; You receive a phone call from “02 6216 1111” number – What does this mean? It means that is the ATO calling you, as that is the…
The gig economy has changed the way Australians earn money. From Uber driving and car sharing to other ride sourcing platforms, more people than ever are turning their cars into income-generating assets. However, with flexibility comes responsibility. This means you can be certain the Australian Taxation Office (ATO) is now paying very close attention. Whether…