Business Tips: Getting Ready for Year End Some things to consider before 30 June 2021 if you run a business… YEAR-END STOCKTAKE / WORK IN PROGRESS If applicable, you need to prepare a detailed Stock Take and/or Work in Progress listing as at 30 June 2021. Review your...
The Balancing Act Budget 2021-22 The 2021-22 Federal Budget is a balancing act between a better than anticipated deficit ($106 bn), an impending election, and the need to invest in the long term. It is also a human budget (cynics would say voter focussed), with $17.7...
2021 Budget Summary Tax-related measures announced included: Personal tax rates – no changes were made to personal tax rates. The Stage 3 personal income tax cuts remain unchanged and will commence in 2024-25 as already legislated. LMITO retained for 2021-22...
COVID-19 and working from home benefits This information is to assist understanding your FBT obligations where employees are provided with benefits to support working from home arrangements during the COVID-19 pandemic. Key points Your fringe benefits tax (FBT)...
ATO sounds alert over new ‘alarming’ TFN scam The Tax Office has issued a warning over a new tax file number scam that has seen nearly $120,000 being lost to fraudsters. The new scam involves a robo-call impersonating the ATO with a pre-recorded message informing a...
Free Webinars from the ATO to Help Run your Home-Based Business When you are running your business from home, expenses such as for electricity, gas and office furniture, can have a serious impact on your bottom line. Learn to calculate the amounts you can claim on...