by Marketing | Mar 23, 2020 | Stimulus Package 1, Stimulus Package 2
On Sunday 22 March 2020 the Australian Government released their second stimulus package. Some of Stimulus 2 relief overlaps with Stimulus 1. Where necessary we will highlight those overlaps and how they work. The package consists of several components. Following is a...
by Marketing | Mar 13, 2020 | Income Tax - Business
After surviving the smoky clouds of bush fires, Australians were at a point to regain their economic status. Regretfully, the second wave of Corona Virus may put a spanner in that wheel. Addressing the global pandemic situation, The Morrison Government has recently...
by Marketing | Feb 25, 2020 | CGT, Share Trading
In recent years the Australian share market has enjoyed period of growth, with prices at historically high levels and solid dividends being paid. It has also experienced decline rarely observed in one lifetime. Whether profits are made or losses accumulated, taxpayers...
by Marketing | Feb 25, 2020 | Busienss Strategies
If you are a small business and have Qld Government contracts, you will get paid faster on issue of invoices. Small businesses will need to register with the Qld Government. See the following Qld Government press release: The Queensland Government recognises that cash...
by Marketing | Dec 10, 2019 | BAS Bookkeeping, Bookkeeping Services, Business Startup, Company Setup, Employment, Income Tax - Business, Payroll, Single Touch Payroll
Single Touch Payroll (STP) was introduced on 1 July 2019 and has changed where every employer will be required to use the system. If you are still using a manual system to pay your staff, you will need to change soon. Recent legislative changes now remove the need for...
by Marketing | Jul 2, 2019 | Uncategorized
The government has before Parliament proposed legislation for an additional low and middle income tax offset starting for the 2018/19 tax year. The tax offset of $1080 (single) and $2160 for “dual” income families is income tested – full tax offset...
by Marketing | Jan 19, 2019 | Bookkeeping Services, Business Startup, Company Setup, Employment, Tradies
What is the Taxable Annual Reporting System? The building industry has been required to report payments to contractors/sub-contractors directly to the ATO for some time. The system is intended to capture payments made to contractors/sub-contractors and reported to the...
by Marketing | Jan 19, 2019 | BAS Bookkeeping, Employment, Payroll, Single Touch Payroll
From 1 July 2019, all employers who pay wages, withhold tax from wages and or contractors, make super contributions or pay fringe benefits will be required to report to the ATO under the Singe Touch Payroll (STP) system. Benefits: 1. Employers will no longer be...
by Marketing | Mar 13, 2018 | Income Tax - Individuals, Negative Gearing, Tax Deductions Checklist
Clients sometimes ask if they can claim a tax deduction for the cost of online training courses, attending seminars and workshops etc in relation to learning about investment, for example share market or options trading, making money and property investment....
by Marketing | Mar 11, 2018 | Tax Deductions Checklist
If you work as a waiter, bartender, barista, kitchen hand, housekeeper, domestic, or other hospitality employment, here is a checklist of some of the tax deductions you may be able to claim on your personal tax return. Tax Warning – The ATO considers the...
