Key things to know about Audit Procedures..
What is an audit report and the purpose? Audit report highlights Auditor’s opinion on financial statements and whether the statements comply with accounting principles and are free from material …
End-of-year finalisation through STP
Note: For clients who are using our Tax Agent services to lodge your STP reporting during 2020-21 financial year, we will be responsible for making this finalisation declaration to the …
Superannuation guarantee to rise
Employers’ superannuation payments to workers are to increase by half a percent a year and expects to reach value of 12% by 2025. From 01 July 2021 superannuation guarantee …
ATO warns against copying and pasting claims from last year
BLOG 25 MAY The Australian Taxation Office has warned Australians against ‘copying and pasting’ last year’s tax claims to boost their tax returns. Last year, roughly 8.5 million Australians …
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6 things to do before renting out your home
Are you thinking about moving to a new house but want to hold onto your current property? Turning it into an investment for the short or long-term can be a …
Tips to help get your BAS right
When completing your next business activity statement (BAS), remember: Keep accurate and complete records of all sales, fees, expenses, wages and other business costs. Only lodge one BAS for each …
Loss carry back tax offset for corporate entities
Loss carry back provides a refundable tax offset that eligible corporate entities can claim: after the end of their 2020–21 and 2021–22 income years in their 2020–21 and 2021–22 company …
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Understanding Family Trusts
A family trust is a common type of trust used to hold assets or run a family business. Essentially, it is a relationship where a trustee holds property or assets for …
Expanding Single Touch Payroll (Phase 2)
Overall The expansion of STP (also known as STP Phase 2) will reduce the reporting burden for employers who need to report information about their employees to multiple government agencies. …
Minimum Wages
Minimum wages in the third and final group of awards increase – from 1 February 2021 changes From 1 February 2021, The Commission has announced a 1.75% increase to …
