2020-12-01T15:14:25+10:0029th September 2020|Accounting, COVID-19, Taxation|
For a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their ‘hit list’ are home office expenses. We will guide you through what you can and can’t claim if you work from home.
Last financial
2025-11-19T16:58:38+10:0029th September 2020|Accounting, COVID-19, Industry Updates, Taxation|
The JobKeeper subsidy has progressed beyond the rush for eligibility into the second round. Along with the new eligibility thresholds that will carry through until March next year, the ATO is beginning to focus attention on compliance. Late last month, the Australian Taxation Office (ATO) released guidance highlighting where the regulator will
2025-11-19T16:58:38+10:0016th June 2020|Accounting, Industry Updates, Taxation|
The new financial year is just around the corner – and it’s going to be a little different this time around.
A raft of new changes is due to kick in which will affect almost everyone, including individuals, families, workers, business owners and even retirees.
Here is the list of changes that will affect
2020-09-23T10:00:08+10:0016th June 2020|Accounting, Advisory, Superannuation, Taxation|
About this time every financial year, it’s an excellent time to review any super contribution opportunities. However, since March 2020, there has been high volatility in investment markets, which may have created extra potential for clients to benefit. There have also been changes to super contribution rules over the last few years
2025-11-19T16:58:38+10:0016th June 2020|Accounting, Industry Updates, Superannuation, Taxation|
The Government has resurrected the Superannuation Guarantee (SG) amnesty giving employers that have fallen behind with their SG obligations the ability to “self-correct.” This time, however, the incentive of the amnesty is strengthened by harsh penalties for those that fail to take action.
The super guarantee amnesty is a one-off opportunity to correct
2020-04-30T18:33:38+10:0030th April 2020|Accounting, COVID-19|
The JobKeeper payment has been established to assist businesses impacted by the COVID-19 as a subsidy from the Government to continue paying their employees. Eligible employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a period of 6 months.
Eligibility for an Emp
2020-04-28T11:01:10+10:009th December 2019|Accounting|
The rise of cryptocurrencies have grown in popularity with Bitcoin trading just under US$7,400 – up from just US$1,000 at the beginning of 2017 which is why a number of rules and regulations have been introduced.
Cryptocurrencies have been with us for a while now and there are a number of rules and
2020-04-28T11:01:05+10:009th December 2019|Accounting, Advisory|
Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction for expenses incurred for holding vacant land. The amendments are not only retrospective but go beyond purely vacant land.
Previously, if you bought vacant land with the intent to build a rental property on it, you may have been able
2020-04-30T16:20:00+10:0027th August 2019|Accounting, Advisory|
Last financial year, more than 8.8 million taxpayers claimed $21.98 billion in deductions for work-related expenses. It’s an area under intense review by the ATO.
AH Jackson & Co partner Emmanuel Georga said tax deductions must take into consideration the direct connection to your income, the private portion of the expense and must
2020-04-28T11:01:12+10:0027th August 2019|Accounting|
In the 2017-18 financial year, more than 2.2 million Australians claimed more than $47 billion in deductions and the ATO believes that is too much – one in ten is estimated to contain errors.
AH Jackson & Co partner Ben Odgers said what you can claim for your rental property has been significantly
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