by Craig | May 11, 2023 | ATO, Deductions, Practice Update
Last chance to claim deductions under temporary full expensing Deductions under ‘temporary full expensing’ are only available in the 2021, 2022 and 2023 income years, and are expected to come to an end on 30 June 2023. Editor: Under temporary full expensing,...
by Craig | Apr 4, 2023 | Superannuation, Tax
New 15% super tax to apply from 1 July 2025 The Government recently announced it will be imposing a 15% additional tax on individuals that have more than $3 million in superannuation. The new measure is expected to commence from 1 July 2025 (i.e., the start of the...
by Craig | Mar 2, 2023 | ATO, Expenses, Practice Update, Working From Home
Significant change to claiming working from home expenses Before 1 July 2022, an individual taxpayer that incurred additional deductible expenses as a result of working from home, had a choice of three methods to claim these expenses. These choices were: The shortcut...
by Craig | Feb 15, 2023 | Practice Update, Superannuation Guarantee
Super guarantee contributions for the December 2022 quarter A reminder to employers that their December 2022 superannuation guarantee (‘SG’) contributions were due by 28 January 2023. Do not forget the two changes to SG that commenced on 1 July 2022: the rate...
by Craig | Nov 3, 2022 | ATO, Director ID, Superannuation
Director ID deadline is approaching The Government has launched an awareness campaign to help company directors get their director identification number (‘director ID’) as the 30 November deadline approaches. A director ID is a unique...
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