How to apply and reapply The ABN is a unique 11-digit number that identifies your business or organisation to the government and community. Not everyone is entitled to an ABN. You may face prosecution or criminal charges if you apply for an ABN, register for GST and claim GST refunds when you’re not entitled. At Strategic […]
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The Government released further superannuation reforms aimed at making employers meet their super obligations towards their workers. The Government plans to introduce a package of measures designed to give the ATO near real-time visibility over SG compliance by employers. It includes measures to: require super funds to report contributions received more frequently. roll out of Single Touch Payroll (STP) Phase
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INCOME TAX TIPS FOR FIRST TIME LODGEMENTS Special rules for those under 18 ♦ Income tax rates for people under 18 ♦ Work out if you’re an excepted personhttps://www.ato.gov.au/individuals/income-and-deductions/in-detail/income/your-income-if-you-are-under-18-years-old/?anchor=Workoutifyouareanexceptedperson#Workoutifyouareanexceptedperson ♦ Work out if you receive excepted incomehttps://www.ato.gov.au/individuals/income-and-deductions/in-detail/income/your-income-if-you-are-under-18-years-old/?anchor=Work_out_if_you_receive_excepted_income#Work_out_if_you_receive_excepted_income ♦ Higher tax rateshttps://www.ato.gov.au/individuals/income-and-deductions/in-detail/income/your-income-if-you-are-under-18-years-old/?anchor=Highertaxrates#Highertaxrates ♦ Tax-free threshold for newcomers to Australiahttps://www.ato.gov.au/Individuals/Ind/Tax-free-threshold-for-newcomers-to-Australia/ Tax-free threshold if you are leaving
First time Income Tax Return Lodgements Read More »
Log Book Template in Excel Format Download Excel PDF Sheet format for – Business Vehicle running expenses
Business Car running expenses Read More »
To claim a deduction for a work-related expense: ○ You must have spent the money yourself and weren’t reimbursed. ○ The expenses must directly relate to earning your income. ○ You must have a record to prove it (usually a receipt). ○ Apportionment of expenses for business use and private use on reasonable basis. Read
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You must register for GST: when your business or enterprise has a GST turnover (gross income from all businesses minus GST) of $75,000 or more (the GST threshold). when you start a new business. and expect your turnover to reach the GST threshold (or more) in the first year of operation. if you’re already in
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New Super Clearing House now available The Small Business Superannuation Clearing House (SBSCH) has joined the Business Portal and is ready to accept employer super contributions. Read More
New Super Clearing House now available Read More »
Cryptocurrencies taxed: For Tax Time 2018, the ATO will likely be in outreach mode, telling taxpayers that cryptocurrency activity has tax consequences, and warning of big penalties for non-disclosure. If you are involved in acquiring or disposing of cryptocurrency, you need to be aware of the tax consequences. These vary depending on the nature of your circumstances.
Tax treatment of cryptocurrencies Read More »
Information about the practitioner lodgment service (PLS), which is replacing the electronic lodgment service (ELS), and the move to Standard Business Reporting (SBR)-enabled software. Read More
Changes to our lodgment services Read More »
We protect honest businesses and identify those gaining an unfair advantage by not paying their fair share of tax. One of our focus areas is businesses that deal largely in cash transactions as this provides dishonest businesses with a much greater opportunity to act unfairly. Read More
Protecting honest business Read More »