ATO Updates
Top 10 Tax Tips For Rental Property Owners
The ATO shares tips to avoid common tax mistakes The ATO is reminding rental property owners that each year it sees some fairly common mistakes being made with tax claims, and the outcomes that result, in regard to investment properties. It has therefore released a list of the top 10 stumbles, and how best to […]
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Changes To Vehicle FBT Rules Under Covid-19
Other changes to vehicle FBT rules The special circumstances that coronavirus has thrown our way look like having some very practical outcomes on certain areas of fringe benefits tax. One of the most prevalent and well-established categories of fringe benefits centres on the provision and use of vehicles. The parking of a car, for instance, […]
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GST On Strata Scheme And Real Estate Agent Services
Responsibilities of the owners’ corporation The owners’ corporation or body corporate is the body made up of all the owners in a strata scheme and is responsible for: Maintaining and repairing common property of the strata scheme Managing finances of the strata scheme, including setting and collecting levies For GST purposes, the owners’ corporation is […]
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Director Resignation And Social Security (New Updates)
The government introduces new laws on backdating resignations ASIC has announced that: The Federal Government has introduced new laws to help combat illegal phoenix activity. From 18 February 2021, a company director will not be able to backdate their resignation more than 28 days or resign if it means the company would be left without […]
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Natural Disasters And Taxes: What You Should Know
Fires or floods can mean loss of income for many Now that we are into bushfire season, and even flooding events have already occurred, it is perhaps timely to be reminded that as well as the more obvious immediate devastation inflicted on people’s property, destructive events such as fires or floods can also mean loss […]
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JobMaker Hiring Credit: What It Is And Who Can Apply
JobMaker hiring credit scheme The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 […]
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