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Tax News

Tax Update

Tax (CGT) exemption for ‘granny flat’ arrangements

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement. Typically, granny flat arrangements occur when an older person transfers some sort of consideration (often title to property or proceeds from the sale of property) to their adult child in exchange

2021-06-09T00:28:40+00:00May 10th, 2021|Categories: Accounting News, Financial News, Tax News|Tags: , , , , |

Super due is on 28 September 2020

Super due is on 28 October 2020 Employers: Your next super guarantee payments are due to your employees’ super funds by Wednesday 28 October. If you’re having difficulty meeting your super obligations because of COVID-19, contact us to discuss your situation and the options available on 1800 806 216. For more information on super guarantee

2021-05-11T06:04:17+00:00October 13th, 2020|Categories: ATO Update, Superannuation, Tax News|Tags: |

Foreign Income

ATO Tax Tip: Declare Your Foreign Income Tax tip: Do you earn income from overseas sources? Don’t forget to declare it on your tax return! Foreign income can include: • pensions and annuities • employment income • investment income • business income • capital gains on overseas assets. Learn more at link below ATO

2022-02-14T03:29:23+00:00October 12th, 2020|Categories: ATO Update, Financial News, Tax News|Tags: |

Service Australia Coronavirus Supplement has extended

Service Australia Coronavirus Supplement has extended The Government has extended the Coronavirus Supplement for eligible income support payments, at a rate of $250pf from Friday 25 September. We understand you might have questions about this change and how it will relate to your reporting period, so we've prepared a handy table to guide you. •

2020-10-15T08:13:43+00:00September 23rd, 2020|Categories: ATO Update, Tax News|

ATO Planned System maintenance from 25 September until Monday 28 September

ATO Planned System maintenance from 11.30pm Friday 25 September AEST until 7am Monday 28 September AEST Our online services will be unavailable and our contact centres closed from 11.30pm Friday 25 September AEST until 7am Monday 28 September AEST while we carry out essential system updates to support critical work. We apologise for the inconvenience

2020-10-15T08:05:00+00:00September 23rd, 2020|Categories: ATO Update, Tax News|

Early release of Super is EXTENDED

If you’ve been financially affected as a result of COVID-19, you now have more time to access some of your super. Applications for COVID-19 early release of super have now been extended to 31 December 2020. **Eligibility To be eligible, a citizen or permanent resident of Australia and New Zealand must require the COVID-19 early

2021-05-11T06:07:30+00:00September 5th, 2020|Categories: ATO Update, Tax News|

SCAM ALERT from ATO

Report SCAM SCAM ALERT We’re seeing a growing number of people making large payments for fake tax debts. Don’t get caught! These phone calls will tell you that you owe money and need to pay it straight away or you’ll be arrested. The scammer will try to keep you on the line until you pay,

2022-01-17T01:08:52+00:00September 1st, 2020|Categories: ATO Update, Tax News|

Tax Time : 1 Week to GO! TPAR is due by 28 August

TPAR(Taxable Payments Annual Report) Taxable payments annual report (TPAR) are due next week on 28 August. If you need to lodge, most of the info you'll need should already be on hand from your monthly or quarterly reporting! Lodge on time so you don’t miss the deadline! Find out more about your TPAR at the

2022-01-17T01:05:52+00:00August 21st, 2020|Categories: ATO Update, Tax News|

Superannuation guarantee amnesty ended

Superannuation guarantee amnesty Superannuation guarantee amnesty has been ended on 7 September 2020. Brief about Super amnesty: -. You had a chance to pay out for the unpaid super liabilities for missing super obligation in past years. -. In General, You can not claim unpaid super liability for your business deductions. -. AND late payment

2022-01-17T00:09:42+00:00August 14th, 2020|Categories: ATO Update, Superannuation, Tax News|
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