What is a recipient created tax invoice?

Tax invoices are an essential element of Australia’s taxation system

Claiming interest expenses for rental properties

Interest is a common deduction claimed by taxpayers.

Small business CGT concessions

Goal posts moved on vacant land and active assets

Calling time out on your business?

Calling time out on your business? Some essentials you’ll need to know

A run-down of the new loss carry back measure

The last Federal Budget carried with it a number of tax changes.

JobKeeper extension’s alternative turnover tests

The extension of the JobKeeper scheme is now based on current GST turnover, not projected turnover. The basic test compares year-on year turnover. If there were events or circumstances outside the usual business settings that resulted in your relevant comparison period in 2019 (September or December 2019 quarter) not being appropriate, then an alternative test may apply.

Rounding of GST where fractions of a cent result

The ATO has devised special rounding conventions where an amount of GST includes a fraction of a cent. Although it labels these conventions “rules”

The investment option that can hide unexpected GST

New residential property is a popular investment for many, and can be especially so for self-managed superannuation funds, however the ATO is concerned that not every investor in residential property is fully aware that it is an option that may bring with it unexpected GST obligations.

ATO’s cyber safety checklist

Scammers never seem to rest, with even the latest JobKeeper iteration coming in for some scam treatment.

What the “full expensing” write-off deduction means for business

The Federal Budget measure of allowing businesses to fully write-off eligible assets is a boon to Australian businesses, even though the measure is temporary.

Lodgement Rates and Thresholds 2020/21 Budget Changes

Please find for your reference a link to comprehensive tax rates and thresholds, updated to reflect changes announced in the 2020/21 Federal Budget.

Road to recovery - Budget 2020 - 21

The information contained herein is provided on the understanding that it neither represents nor is intended to be advice or that the authors or distributor is engaged in rendering legal or professional advice. Whilst every care has been taken in its preparation no person should act specifically on the basis of the material contained herein. If assistance is required, professional advice should be obtained.