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Blog
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05Apr2021
Tax Deductions
Pretty much everyone who works or earns an income can claim some sort of deduction when it comes time to do your income taxes. Correctly claiming deductions (so you don’t over claim and get into trouble or under claim and pay too much tax) can be quite convoluted. There are specific deductions that apply only […]
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27Feb2021
Departing Australia superannuation payment (DASP)
Departing Australia superannuation payment (DASP) If you have worked in Australia while on a temporary visa or on a working holiday, you have probably ended up with some superannuation money which is being held by your super fund. This might be a super fund you chose – or one your employer or employers chose for […]
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31Jan2021
Jobmaker Explained
First Jobkeeper and Jobseeker and now we have Jobmaker. Yet another complex and hard to understand government initiative to get us all through COVID and it’s aftermath, in one piece. Not that you can complain too much. The various Job – etc’s and so forths have done a magnificent job of providing a port for […]
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04Jan2021
Fringe Benefits Tax
What is it and what do I need to do about it? A guide for businesses. The deadline for FBT is the 31st of March. So it’s time for businesses to start getting ready. Keep in mind that if you have employees you probably should submit an FBT return even if you don’t need to […]
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01Dec2020
What is the difference between a contractor and an employee?
It can be sometimes hard to work out what the difference is between your business taking on an employee and taking on a contractor. But it is important for you to get it right because both roles are protected and regulated by different legislation. Your obligations in terms of holidays, tax/PAYG, super and other things […]
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31Oct2020
Pay As You Go Instalments
So you just did your income tax and the next thing you know – you get a letter from the tax man telling you that you have to pay some of this years tax ahead of time in instalments! What happened? Pay As You Go Instalments (PAYGI) is where the Australian Taxation Office believes that […]
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29Sep2020
Dealing with tax debt during Covid 19
Covid 19 has left many businesses, large and small, facing tax debts. Taxes that are due to be paid to the Australian Tax Office that they simply can not pay in full – in time. The first thing is – DON’T PANIC. The ATO is not interested in punishment. The ATO is surprisingly helpful and […]
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- Posted by: user
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31Aug2020
Bookkeeping Tips for Small Business
….and why you need a bookkeeper. Keep records for all transactions and keep them organised and comprehensible and up to date. Never think “I will do it later”. Because you won’t. Allocate a set time every single week for bookkeeping. If you don’t, you will get more and more behind and more and more disorganised. […]
- Tags: Bookkeeping, Small business
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- Posted by: user
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30Jul2020
Jobkeeper 2
This is how Jobkeeper works at the moment. Eligible employers, sole traders and eligible business participants can enrol for Jobkeeper. You are assessing your own eligibility. At the moment the government will take your word for it. BUT!!!! Single Touch Payroll and all the other ways the Australian Tax Office have of keeping tabs means [...]- Comments: 0
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28Jun2020
COVID 19 home office deductions for tax time
To start off with, there are some rules about deductions. You must have spent the money on something that is related to you earning money. So if you got reimbursed by your work or you were given a work item or equipment by your employer – THEN YOU CAN’T CLAIM IT! I put that in […]
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- Posted by: user