PRIVATE HEALTH INSURANCE OFFSET
Most people who have private health cover are not aware of how the private health insurance offset works. Your health fund automatically applies a 25% offset to your health premiums. …
Instant Asset Write-Off
The government has made a few changes in regards to the Instant Asset Write Off for the 2022 and 2023 financial years because there has been an extension made to …
Claim Depreciation This Financial Year
If you haven’t owned your investment property for a full year you can still claim depreciation deductions this tax time. Depreciation deductions can be claimed pro-rata for the period a …
Important Changes to Director ID’S
The transitional period where new directors were given 28 days from the date of their appointment to obtain their director ID has ended. Starting 5th of April 2022, it is mandatory to …
STOP PRESS
The ATO has been quite lenient with lodgements and penalties as well as tax owing during the pandemic. Beware the honeymoon is over. The ATO is now vigorously pursuing tax …
The Super Guarantee Charge
Superannuation is the money you pay to eligible workers to provide for their retirement. Super guarantee (SG) is the minimum amount you must pay to avoid the super guarantee charge, …
Cryptocurrency and Tax
Trading of cryptocurrency involves tax implications, The below 3 steps will help to manage your tax responsibilities with cryptocurrency. Reporting disposal of cryptocurrency: Disposals should be reported for capital gains, …
NEW COVID GRANT 2021-2022
On the 27th of December 2021, the South Australian Government has released two new cash grants for eligible businesses that were negatively impacted by the increased restrictions. Tourism, Hospitality and …
Single Touch Payroll Phase 2
STP Phase 2, will help to reduce the reporting burden for employers who report information about their employees to multiple government agencies. The mandatory start date for Phase 2 reporting is …
Director Identification Number
The Australian Government has announced the introduction of a new mandatory Director Identification Number (DIN/director ID) as part of the Modernising Business Registry (MBR) Program. The roll-out will start from …
