In addition to the Australian Federal Government economic stimulus package in response to the Coronavirus, State Governments have also issued support packages to businesses which vary State by State. Queensland Government Payroll Tax Support (QLD) A payroll tax relief package is now available for all businesses which defers payroll tax for up to six months. […]
Archive by Author
Tax Incentives in response to Coronavirus
17
Mar
The Australian Federal Government has announced an economic stimulus package in response to the Coronavirus which includes tax relief for small businesses and employers. The main measures that will be administered by the ATO are cash flow assistance for employers, increased instant asset write-off thresholds and accelerated depreciation deductions. The Government will also provide a […]
End of Financial year considerations for self-managed superfunds
13
Jun
The end of the financial year is fast approaching and we strongly recommend that trustees of self-managed super funds review their existing arrangements to ensure full compliance with superannuation legislation. Areas that will need your attention are as follows: Review and update of the fund’s investment strategy Legislation requires the trustee/s to regularly review the […]
Tax Strategies pre 30 June 2019
12
Jun
The end of financial year is fast approaching therefore it is now time to not only look at what has been achieved throughout the year, but also see whether any fine-tuning can (or should) be made before 30 June. Maximising tax deductible expenses If cash flow permits, you may consider prepaying deductible interest or bringing […]
Cloud computing
19
Oct
Cloud computing is not a new phenomenon. If you have an e-mail account such as Gmail or Hotmail, have ever bought something online, or have a Facebook account, you’ve used cloud computing. But cloud computing used by businesses is different. Cloud computing, at a broad level, is the provision of information technology resources as a […]
Tax strategies pre 30 June 2018
08
Jun
PERSONAL AND BUSINESS TAX STRATEGIES FROM OUR NOOSA TAX AGENTS. The end of financial year is fast approaching therefore it is now time to not only look at what has been achieved throughout the year, but also see whether any fine-tuning can (or should) be made before 30 June. Prepayment of Interest or other tax […]
12 month Superannuation Guarantee Amnesty in force from 24 May 2018 to 23 May 2019
06
Jun
INFORMATION ABOUT THE SUPERANNUATION GUARANTEE AMNESTY. A 12 month Superannuation Guarantee Amnesty is currently in force and will continue to run until 23 May 2019. Please note the legislation is currently before parliament and is yet to receive Royal Assent. What is the Superannuation Guarantee Amnesty? The amnesty provides concessions for employers to come forward […]
Can you claim travel to your investment property as a tax deduction?
25
May
TRAVEL EXPENSES AND PROPERTY INVESTMENT TAX DEDUCTIONS. From 1 July 2017, property owners cannot deduct an outgoing for travel related expenditure to the extent that it relates to residential property/premises. Therefore airfares, accommodation and motor vehicle expenses incurred to travel to a residential rental property for inspection and/or maintenance purposes will no longer be tax […]
Results of the 2018-2019 Australian Federal Budget
11
May
INFORMATION ABOUT THE 2018/2019 FEDERAL BUDGET. The Federal Government handed down the 2018-2019 Budget on 8 May 2018. It is important to remember that these announcements are only proposals at this stage. Each proposal will need to pass through both the House of Representatives and the Senate before they become law. This process may take […]
New reporting obligations for self-managed super funds
04
May
SELF MANAGED SUPER FUNDS AND INFORMATION AND ASSISTANCE. Some self-managed superannuation funds (SMSF’s) will be subject to new reporting obligations imposed by the ATO. These new reporting obligations, TBAR (transfer balance account reports) will come into force from 30 June 2018, and will be separate and additional to the SMSF annual return that is lodged […]
