From July 1 2019, If you don’t meet PAYG withholding obligations for your workers, by not withholding tax from their payments and not reporting it to the ATO, you could lose your tax deduction. This will apply to income tax returns lodged for the 2020 financial year and beyond. If you withhold tax from payments … Read more
You’re in business, congratulations, that takes courage and commitment. It’s not easy, and at times you might find yourself questioning why you’re even doing it, but you’re here because you had a vision. You decided being in business was a better way to achieve that vision than working for someone else. And, you’re right; you … Read more
With more choice than ever in consumer goods, brands are turning to individuals who will promote products to their large social media fan base. Each new trend is often an iteration of a previous way of doing things. Companies have long used celebrity endorsement to advertise their brands to customers, but influencer marketing is a … Read more
Prepare now for your taxable payments annual report (TPAR) lodgement. Whether you lodge your own report directly with the ATO or if you use our lodgement services, this form is due by the 28th August. There are a number of supplier details required in the TPAR. If you have not kept up-to-date supplier records throughout … Read more
When an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT) under the FBT taxi travel exemption. The question is, what about Uber and other ride sharing services, do they also qualify for the exemption? If Uber is … Read more
Why the Government does not want your business accepting cash payments of $10,000 or more From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison … Read more
Personal income tax changes – what are you really entitled to? The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know … Read more
Do you meet with clients As a business owner, you may find yourself meeting with clients at cafes, restaurants, or other external venues. You may be wondering whether the costs of these meetings are tax deductible or subject to Fringe Benefits Tax (FBT). In this blog post, we will answer these questions and provide some … Read more
A starter’s guide to selling relevantly Advances in technology have impacted the way customers research products and services, and how they shop. Customers have often done their homework and researched all the various options available, and as a result, they think they have all the answers. They will confidently walk into your business telling you … Read more
