DateChanges and actions1 July 2021 Work related COVID-19 test expenses tax deductiblePre-30 June 2022 Pay superannuation to deduct contributions in the current financial year ATO recommences offsetting tax refunds or…
BUSINESS DateChanges and actions21 May 2022 FBT return and payments due if applicable unless lodging electronically through atax agent25 June 2022 FBT return and payments due if lodging electronically through…
The Australian Labor Party (ALP) has won the 2022 Australian federal election and has been elected to form government in the House of Representatives. It is unclear at the time…
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee…
The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022…
A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will…
With a Federal Election due in the next 8 weeks, the Morrison Government has just made its bid for re-election with the following headline announcements in its Federal Budget released…
At 7:30pm (AEDT) on 29 March 2022, the Treasurer Josh Frydenberg handed down the 2022-23 Federal Budget. One of the main items in this budget is a temporary cut to…
Fringe Benefit Tax (FBT) applies to benefits to your employees that are additional to their salary or wage, such as personal use of a company vehicle. Make sure you have…
Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now…