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...
by Craig | Sep 6, 2022 | ATO, COVID-19, SMSF, Superannuation
More COVID-19 business grants are now tax-free The Federal Government has expanded the list of State and Territory COVID-19 grant programsthat may be tax-free to eligible businesses.A State or Territory Government COVID-19 grant payment will generally be tax-free if:...
by Craig | Aug 6, 2022 | Assets, ATO, Corporate Beneficiaries, Discretionary Trusts, Superannuation, Tax Return
Tax time focus on rental property income and deductions The ATO is focusing on four major concerns this tax season when it comes to rental properties. Concern 1: Include all rental incomeWhen preparing tax returns, make sure all rental income is included, such as from...
by Craig | Jul 9, 2022 | ATO, Practice Update, SMSF, Superannuation, Tax Return
ATO’s small business focus for 2022 income year The ATO announced that it will be focussing on the following matters for small business tax returns for the 2021/22 year: Deductions that are private in nature and not related to business income, as well as overclaiming...
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...
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