by Craig | May 4, 2022 | ATO, Practice Update, Tax Return
No reduction in the Private Health Insurance rebate as of 1 April 2022 An event that we have become accustomed to every 1 April, is that the amount of the Private Health Insurance (‘PHI’) rebate decreases. The Australian Government rebate on PHI is annually indexed on...
by Craig | Apr 6, 2022 | ATO, COVID-19
2022-2023 Budget Measures that are now law Low and Middle Income Tax Offset A measure that will no doubt be beneficial for individual taxpayers is the increase in the Low and Middle Income Tax Offset (‘LMITO’) for the 2022 income year by $420. The LMITO is a tax...
by Craig | Mar 6, 2022 | ATO, Federal Budget,, SMSF, Superannuation
Tax deductibility of COVID-19 test expenses After much speculation, the Government announced that COVID-19 tests, including Polymerase Chain Reaction (‘PCR’) and Rapid Antigen Tests (‘RATs’), will be both: tax-deductible; andexempt from FBT; broadly where they are...
by Craig | Feb 2, 2022 | ATO, COVID-19, JobKeeper Payment
ATO support for businesses in difficult times The ATO has reminded taxpayers that it has a range of support available for small businesses experiencing difficult situations, such as natural disasters, mental health challenges or financial hardship. ...
by Craig | Dec 4, 2021 | Uncategorized
Super is now following new employees The ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the choice of super fund rules. If a new employee does not choose a super fund, most employers will need...
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