News

Resources to help understand and implement Single Touch Payroll (STR)

STR is a significant change for business tax compliance, though for now those businesses that need to make this charge have 20 or more employees.  Changes take effect on 1-7-2018, 12 months later for businesses with less than 20 employees.

Tax Deductions Doctors Should Look Out For

By Joddy Chikomwe, Accountant There are a lot of tax deductions that relate specifically to people working in the medical industry which are often overlooked and not claimed because people do not know. As we approach the end of the financial year and tax time is upon us once again, the following tax-deductible expenses have […]

New rules capture SMSFs trading big with cryptocurrency

Sizeable cryptocurrency transactions will “come to the attention of the ATO” under new rules that came into effect this week, so a mid-tier firm has put together a checklist of key considerations to keep SMSF investors compliant.

New passive income test for lower corporate tax rate

New rules ensure that companies with more than 80% passive income will not qualify for the reduced company tax rate.

End of year tax tips

By Jane Kemsley, Director, Pembertown The end of the tax year is edging closer. If you haven’t planned how you will maximise your income and save some tax, take note! The most effective strategies are often the simplest and can be applied before 30 June this year whilst others should be considered for next year. […]

Tools to help you manage your financial position are available on our site.

Three ingredients to attaining your retirement goals: give yourself enough time, utilise professional assistance and increased financial literacy.  

Common EOFY slip-ups flagged for SMSFs

In a bid to avoid common basic errors in the lead up to June 30, BDO has released a checklist for SMSF professionals to be wary of.

‘A simple mistake can attract our attention’: ATO reminder about FBT slips-ups

The tax office has issued a reminder to tax professionals about some simple, but common, errors which often attract its attention with fringe benefits tax (FBT).

Beware residency rules if moving overseas

SMSF trustees are often unaware that if they move overseas for an extended period of time, their SMSF may fall foul of the ATO’s residency rules and they may face a heavy tax bill.

Australia by numbers – Update

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