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.
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
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