2. Don’t Lodge EarlyThe Australian Taxation Office is warning taxpayers against rushing to lodge their tax returns on 1 July. The ATO said those who lodge in early July are twice as likely to make a mistake in their tax return than those who wait for pre-fill information to populate, an issue that is particularly relevant if you receive…
As you would all be aware, the Federal and WA governments handed down their latest budgets last week. As such, we’ve brought together a list of the tax measures we expect will affect you. Individuals Businesses Jody’s up for an award! It’s with great pleasure that we announce Jody is an AccountantsDaily 2023 Australian Accounting…
Before we get into today’s main topic – Budget 2022/23 – we wanted to note with you all that earlier this month we were in a Zoom call with over 5,500 other accountants and taxation specialists across Australia, working through some of the curlier aspects of the ATO’s recently proposed changes to family trust distributions.…
The WA Government has announced grants of $2,000 to help small businesses impacted by the recent Perth and Peel lockdown. The grants are intended to offset some of the direct costs of the lockdown and business closure, such as loss of perishable goods or cancellations. Businesses in the hospitality, health, beauty, events and tourism industries…
JobMaker Deadline Looms JobMaker enrolments opened on Monday the 7th of December and because of the tight turnaround times, if your business would like to access JobMaker for the first period, it will be important to assess eligibility. Be sure to contact us as soon as possible to get the ball rolling. Wednesday the 6th…
Continue reading 2021: Opportunities and Risks, JobMaker Deadline Looms, Christmas Parties and FBT
Last week, the legislation enabling the JobMaker scheme announced in the 2020-21 Federal Budget passed Parliament. What is JobMaker? JobMaker is a credit available to eligible businesses for the hiring of additional employees. It is an incentive for employers to support wage costs and, unlike JobKeeper, is not passed onto employees. The hiring credit is available for jobs…
Josh Frydenberg’s 2020-21 Federal Budget, inevitably shaped in response to the COVID-19 crisis, has revealed some distinct winners and losers. Given the unprecedented events that have unfolded this year, the Australian Government’s 2020-21 Federal Budget was always going to outline a path to economic recovery. Handed down last night, the Budget’s key initiatives include: Personal income tax cuts from…