• insurance policy
    Am I Taxed on An Insurance Payout?
    Australia has had its fair share of disasters over the last few years – drought, bushfires and floods – that have ramped up the volume of insurance claims. Most people would assume that if and when they need to claim on their insurance, the insurance payout covers the damage and […]
  • changes-ahead
    What Changes on 1 July 2021?
    Super guarantee rate increase to 10% On 1 July 2021, the Superannuation Guarantee (SG) rate will rise from 9.5% to 10% – the first rise since 2014. It will then steadily increase each year until it reaches 12% on 1 July 2025. The 0.5% increase does not mean that everyone […]
  • Superannuation
    Super Guarantee Rate Rising 1 July
    On 1 July 2021, the super guarantee rate will rise from 9.5% to 10%. If you have employees, you will need to ensure your payroll and accounting systems are updated to incorporate the increase to the super rate. If you need help to work out how much super you need to […]
  • skilled migration
    Is It Time for Australia to Rethink Skilled Migration?
    Source: NestEgg When borders reopen, Australia has a chance to reshape its migrant policy, with an opportunity to target younger, more skilled workers, a think tank has revealed. Australia is not attracting the right migrants, instead it should focus on simplifying the process, taking in younger skilled workers, and paying them […]
  • Fringe Benefit Tax
    FBT Exemption, LMITO Tax Bill Introduced Into Parliament
    Source: Accountants Daily Treasury Laws Amendment (2021 Measures No. 4) Bill 2021 was introduced to the House of Representatives on Wednesday and contains two tax measures included in the Morrison government’s 2021–22 federal budget.  The first of them is the government’s FBT exemption, which will provide employers with a way […]
  • cryptocurrency
    ATO Sheds Light on Crypto Compliance Focus
    Source: Accoutants Daily Speaking at a tax-time tips seminar on Thursday, ATO assistant commissioner Adam O’Grady warned tax agents and taxpayers that his office will be closely watching all capital events related to cryptocurrency come tax time.  “It is really important for all capital assets; we will be looking to […]
23 March 2021
Australian Tax Office

ATO Called to Drop Part IVA for Personal Services Businesses

Tax & Super Australia tax counsel John Jeffreys believes the ATO’s recent release of draft taxation ruling TR 2021/D2 has reinforced the uncertainty faced by businesses when dealing with personal services income tax. The ATO notes that the general anti-avoidance rules in Part IVA may still apply to “income-splitting arrangements […]
14 May 2018

The Golden Rules for Work-Related Tax Deductions

The Australian Taxation Office is cracking down on cheeky taxpayers, arguing that it’s not fair for tax-dodgers to expect others to fork out for the bill. ATO assistant commissioner Kath Anderson has said that 2018 is the year in which the ATO shines a spotlight on work-related deductions that aren’t […]
13 November 2017

Working Holiday Tax in Australia

Australia is a great place to travel and there are lots of opportunities to work whilst you’re here. Unfortunately, a working holiday isn’t automatically a tax holiday and, for the new arrival, the Australian tax system can be a minefield! Travellers who earn income while in Australia will be expected […]
5 October 2016

Simple Tax Minimisation Strategies

Melbourne businesses may not be too keen on welcoming June. After all, the last day of which is also the end of the country’s financial year. It’s the time of the year when business owners are busy implementing their last minute tax planning strategies. Well, this shouldn’t be too complicated […]
23 November 2015

Taxation Rules for Online Bloggers

This is a very grey area of tax law, and the information available on the internet for this topic is limited.  If you’re a blogger, or run a small online business for fun, you may be having sleepless nights wondering whether the tax man is going to eventually catch up […]
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