TAXATION AND BUSINESS ADVISORS

Please watch the video below published by the Australian Taxation Office for a step to step guide on how to create a myGov account and link it to the ATO: 

Before creating your myGov account, you will need information from one of the following : 

• Notice of Asses...

Single Touch Payroll or STP is a new regulation that will change how information such as wages, super contributions, PAYG withheld etc is reported to the ATO.

Before STP was introduced businesses previously reported such information to the ATO once a year. The reports...

Be more informed on tax changes that may impact you. The Australian Taxation Office have released the below article regarding cash in hand payments.

The Australian Taxation Office (ATO) today reminded employers that any unreported ‘cash in hand’ payments made to workers...

Owning an investment property can provide great benefits, including additional income and entitlement to tax deductions.

The ATO has an increased audit focus on investment properties for the 2018-19 financial year and is expected to audit 4,500 rental property owners....

Changes to Division 7A will be further delayed, as outlined in the 2019-20 Federal Budget.

This section of the Tax Act requires benefits provided by private companies to related taxpayers be taxed as dividends unless they are structured as complying loans or subject to...

As the end of the financial year approaches, it is important to be aware of changes to compliance obligations for small business owners.

New penalties for business’ pay-as-you-go (PAYG) withholding and reporting obligations will commence 1 July 2019, with businesses now...

Staying on top of record-keeping all year round can save time, reduce stress for small business owners and help to maximise your tax return.

Although record-keeping can seem like a tedious job, it is an essential part of running a business

Good record-keeping makes it ea...

As the end of the financial year approaches, now is an ideal time to think about ways that you could grow your superannuation. Here are some strategies you can consider that will enable you to streamline your finances while also seeking some generous tax breaks.

Concess...

Maximise your tax deductions for the 2018-19 financial year by planning and reviewing your records. Here are top tips for businesses and individuals when it comes to year-end tax planning:

Small business CGT concessions

Individuals operating a small business may be eligi...

The Instant Asset Write-Off Scheme has been extended to 30 June 2020 for assets purchased under $30,000.

The scheme affects small to medium businesses with a turnover of up to $50 million a year, allowing business owners to immediately deduct assets costing up to $30,00...