Blog

Despite the current COVID-19 world in which we live, the procedures for completing and lodging tax returns remains pretty much the same. Before we talk with you to go over your tax return,  certain information will be needed. Of course...

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Tax Return Tips
On 1 July 2000, Australia experienced one of its most significant tax reform events with the introduction of goods and services tax (GST). The ATO’s Deborah Jenkins was working at the coalface to get the new tax off the ground....

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A draft legislative instrument proposes to expand the scope of services that can be legally provided by BAS agents. This is on top of a recent changes that allowed BAS agents to help clients with super guarantee amnesty transactions and...

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The ATO has clarified that the following count towards JobKeeper’s $1,500 per fortnight payments to employees: salary and wages covered by section 12-35 of Schedule 1 to the Taxation Administration Act 1953 all allowances other than a reimbursement of expenses or a fringe...

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More support for taxpayers in the face of the COVID-19 health crisis has just been announced in the form of a suspension of the indexation of tax instalments for the up-coming 2020-21 income year. Both income tax (PAYG) and GST instalments are...

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Treasury has announced the commencement of a grants scheme, named along the lines of other recent initiatives, called HomeBuilder. The grant scheme provides eligible owner-occupiers (including first home buyers) with a grant of $25,000 to build a new home or substantially...

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The COVID-19 period in everyone’s life continues, and as time goes by more issues keep arising regarding certain tax matters. One such issue, which the ATO has realised may be a concern, is the changed rental property market, and the...

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Client Information Newsletter - June 2020
Subject to certain eligibility criteria, the JobKeeper rules allow entities to nominate an individual who is actively engaged in the business to be the entity’s “eligible business participant”. In doing so, the business will receive JobKeeper support of $1,500 per...

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The ATO has announced an important tax residency concession for foreign incorporated companies during the COVID-19 crisis. Background On 24 March 2020, the government announced a ban on Australians travelling overseas, using powers given to it under the Biosecurity Act 2015....

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Now that some businesses have lodged their March activity statements, the much anticipated cash flow boost has started to be received (not offset against any tax liabilities either, as was initially a possibility). The cash flow boosts (there is to...

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