The coalition has delivered their 5th Federal Budget and this year, Scott Morrison’s theme of “living within their means” was focused on delivering income tax cuts, providing essential services and returning to a surplus a year earlier than previously outlined.
As we approach 30 June 2018 now is the time to make sure that your business is prepared for the end of the financial year and to make sure that you take advantage of any tax planning opportunities.
In our January Blog we discussed the introduction of Single Touch Payroll (STP) and what this could potentially mean for your business.
Single Touch Payroll (STP) is a change to reporting for employers. Employers will be required to report payments to employees directly from their accounting/payroll software to the Australian Tax Office (ATO).
With Christmas just around the corner, many Business owners start thinking about ways to thank their employee’s for their hard work during the year.
There have been a lot of changes over the last 12 months for SMSF’s and this will continue with the introduction of “Events Based Reporting”.
On Tuesday 12th of September 2017, Federal Parliament passed Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017.
We have once again reached Tax Time and the ATO has released a ‘Hit List’ outlining its compliance target areas for this year.
From 1 September 2017 the rules are changing for anyone that charges a surcharge to customers who pay by card. Under the new rules the surcharge amount you charge cannot be more than the annual costs for processing your transactions.
Make sure that you maximise your tax refund by claiming all possible deductions for the year ended 30 June 2017.
