Taxation

Where are you making mistakes in your tax?

2022-06-23T14:07:25+10:0023rd June 2022|Accounting, Taxation|

The ATO has flagged four priority areas this tax season where people are making mistakes.

With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season.

  • Record-keeping
  • Work-related expenses
  • Rental property income and deductions, and
  • Capital gains from crypto assets, property, and shares.

In

What tax changes are taking effect on 1 July 2022?

2022-06-23T14:07:02+10:0023rd June 2022|Accounting, News, Taxation|

A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up:

For business

Superannuation guarantee increase to 10.5%

The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each year until it reaches 12% on

Are your contractors really employees?

2022-05-08T19:00:00+10:008th May 2022|Accounting, Advisory, News, Taxation|

Landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes.

Many business owners assume that if they hire independent contractors they will not be responsible for PAYG withholding, superannuation guarantee, payroll tax and workers compensation obligations. However, each

Mental health support for business owners

2021-09-30T16:39:53+10:001st October 2021|Accounting, News, Taxation|

Running a business can be an isolating experience. And, with COVID-19 lockdowns and disruptions to trade, the pressure can be intense.

NewAccess for Small Business Owners is a free and confidential mental health program developed by Beyond Blue to give small business owners the support they need. Whether you’re just feeling stressed, or

New laws will target ride sharing and accommodation platforms

2021-09-30T16:39:35+10:001st October 2021|Accounting, News, Taxation|

In an attempt to reign in undeclared income, proposed new laws will require platform providers in the sharing economy to report all transactions through their platforms.

Traditional employment models have shifted in favour of more flexible options including contracting, self-employment and use of labour hire. Consumers are increasingly paying to ‘use’ rather than