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The ins (and outs) of personal services income
Ins (and outs) of Personal Services Income It is not uncommon for professional people who provide services to set up a separate entity to run their...
Natural disasters and help with your tax
Now that we are into bushfire season, and even flooding events have already occurred, it is perhaps timely to be reminded that as well as the more...
Taking advantage of the superannuation guarantee amnesty may have one last hurdle
At the time when the superannuation guarantee amnesty measure ran its course (it expired 7 September 2020), the Assistant Minister for...
Single touch payroll: When your reporting can cease
Single touch payroll: When your reporting can cease Your business may no longer need to lodge single touch payroll (STP) reports for a number of...
Getting a tax valuation from the ATO
Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value (and therefore the tax that...
Claiming interest expenses for rental properties
Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or...
Company loss carry back measure explained
The Background The last Federal Budget carried with it a number of tax changes that were designed to assist the Australian economy recover from the...
New residential property and GST reporting obligation
New residential property is a popular investment for many, and can be especially so for self-managed superannuation funds, however the ATO is...
What the “full expensing” write-off deduction means for business
The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is...
2020 Federal Budget – impact on individuals and businesses
We all understand that budgets are an exercise in predicting the future. Given what has happened in 2020, gazing into the crystal ball and...
JobKeeper extension eligibility (updated)
JobKeeper rules, conditions and payment rates have changed Legislation has been put in place to extend the JobKeeper scheme beyond its original...
COVID-19 payments and some issues for companies and trusts
With many having received cash flow boost and JobKeeper payments, there can arise some unique issues where these amounts are received within a trust...
Rental Property: Tax Approach Adjusts for COVID-19
The COVID-19 pandemic has placed property owners, and tenants in many cases, in unfamiliar territory. Many tenants have been paying reduced rent or...
NSW Discretionary Trust and Land Tax Surcharge
In NSW, surcharge purchaser duty applies to acquisitions of NSW residential land by foreign persons, and surcharge land tax applies to foreign...
Extension of the JobKeeper Payment
The JobKeeper payment, which was originally due to run until 27 September 2020, will now continue to be available to eligible businesses (including...
Employment Law and COVID-19: Q & A
As with many elements of the economy in these days of the coronavirus epidemic, it is not only taxation and superannuation dealings that have been...
Last-minute tax planning tactics
This financial year is almost over, but there are still effective strategies you may be able to employ to make sure you pay the right amount of tax...
Employment Law and JobKeeper Payment – Q&A
What are the remedies for an employer where the employee unwilling to work additional hours equivalent to the $1,500 per JobKeeper fortnight?The...
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