by James Carey | Jun 25, 2020 | Business Services & Advice
Our 2020 EOFY update and actions for individuals will give you an overview of tax changes and some actions you can take to reduce your tax exposure and minimise risk of an audit. What’s New: 2020-21 Federal Budget delayed until October Working from home? What...
by James Carey | Apr 20, 2020 | Business Services & Advice, COVID-19
Record your BAS as a purchase bill Note: in this example, client pays quarterly GST and monthly PAYG and therefore will be eligible to receive a credit equal to 300% of his March PAYGW, ie. 3 x $3,000 = $9,000 The ATO will offset these $9,000 against the March quarter...
by James Carey | Mar 31, 2020 | Business Services & Advice, COVID-19
Date From 30 March 2020 for six months For employees employed at and from 1 March 2020 First payments in first week of May 2020 Applies to Based on comparable periods: Employers <$1 bn that have experienced a downturn of more than 30% Employers >$1bn that have...
by James Carey | Feb 26, 2020 | Business Services & Advice, News
It has been a big week in parliament. This update is important for any directors as their personal liability for company activities has increased. From 1 April 2020, company directors will be personally liable for any unpaid GST, luxury car tax (LCT) and wine...
by James Carey | Feb 25, 2020 | Business Services & Advice, News
After first being announced 24 May 2018, the Superannuation Guarantee Amnesty has now been passed by parliament and is awaiting royal assent. The SG Amnesty provides for a one-off amnesty to encourage employers to self-correct historical SG non-compliance dating from...
by James Carey | Nov 22, 2019 | Business Services & Advice, News
Single Touch Payroll consequences Single Touch Payroll (STP) is now mandatory for most employers, though there remains concessional reporting for small and family businesses. STP replaces annual PAYG Payment Summaries (group certificates) being sent to the ATO with...
