Superannuation Tax Offsets (What You Need To Know)
Two superannuation tax offsets Tax offsets directly reduce the amount of tax payable on your taxable income. In general, offsets can reduce your tax payable to zero, but on their …
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Understanding Discretionary Trust Distributions
Purpose of trust distributions Distributions from trusts and the taxation of those distributions is complex. This is an attempt to simplify the topic. The purpose of a trust is to …
Residential Rental Property Claims & COVID-19
Has your residential rental property rental income been affected by COVID-19? As a result of this income year NOT being business as usual, the ATO has provided answers to some …
End of Financial Year- Last-Minute Tax Planning Tactics
Effective tax strategies to employ for the current tax year This financial year is almost over, but there are still effective strategies you may be able to employ to make …
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COVID-19 Instant Asset Write Off And Accelerated Depreciation
Instant asset write off provisions While many of the COVID-19 stimulus changes such as the JobKeeper payment are grabbing headlines, it is easy to overlook the significance of the $150,000 …
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Claiming COVID-19 Work From Home Expenses
Claiming expenses when working from home Many people are asking questions about claiming expenses when forced to work from home over the COVID-19 period. What’s more, there seems to be …
Changed Conditions For Covid-19 For Temporary Visa Holders
The government has made a number of changes to temporary visa holder arrangements during the COVID-19 crisis. The Department of Home Affairs says these measures have been made to protect …
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Alternative Turnover Test for Jobkeeper Payments
The alternative turnover test will only apply to certain circumstance An alternative decline in turnover test for the JobKeeper payment scheme has now been registered by the ATO. The ATO …
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Covid-19 Support Grant For Small Businesses
Small businesses and non-profit organisations The NSW Small Business COVID-19 Support Grant of up to $10,000 is available to eligible NSW small business owners and non-profit organisations. The application form …