Recent co-ordinated audit activity from the ATO, State revenue offices and workcover authorities have highlighted the importance of making the correct distinction between a legitimate contractor and a deemed employee. The costs of getting it wrong can be significant, particularly to small businesses. Often businesses are looking to reduce the red-tape and administrative hassle of […]
Claiming Mobile Phone, Internet and Home Phone Expenses
The Australian Taxation Office has recently issued a fact sheet entitled “Claiming mobile phone, internet and home phone expenses”, which now generally requires many taxpayers making such claims to keep a 4-week diary. If you use your own phones or internet for work purposes, you may be able to claim a deduction if you paid […]
Asset Finance
When preparing tax returns it is obvious that too many clients are not choosing the right type of asset finance. Getting advice in this area instead of using the sales team from where you purchaser a car, or the local bank can save both time and money. Time that may be better off used to […]
Do you import goods worth $1,000 or less?
From 1 July 2018 overseas businesses that meet the GST registration threshold of A$75,000 will need to charge GST on goods that are: less than A$1,000 (low value) imported into Australia not GST-free (such as most basic food, alcohol, tobacco, or tobacco products). How will this affect you? You will be charged GST on low […]
Proposed SG amnesty raises opportunities and risks
On 24 May 2018, the government announced a 12 month superannuation guarantee (‘SG’) amnesty (‘Amnesty’) that proposes to give employers an opportunity to rectify past SG non-compliance without penalty. If the Treasury Laws Amendment (2018 Superannuation Measures No. 1) Bill 2018 (‘SG Bill’) is ever made law, the Amnesty period will apply from 24 May […]
