Tax
CategoryCommon tax mistakes that businesses make
Meeting tax obligations as a business owner can be stressful and potentially expensive if done wrong. Certain mistakes warrant severe acti..
Amending fringe benefits tax return and updated exemptions
The Government has updated fringe benefits tax (FBT) exemptions to include travel in ride-sourcing vehicles under the existing taxi travel..
Are you eligible for the small business income tax offset?
The small business income tax offset can be used to reduce the tax you pay by up to $1,000 a year. Also known as the unincorporated small ..
COVID-19 factors to remember when filing your tax return
The end of the financial year has rolled around again, but this time, COVID-19 may affect the way you fill out your tax return. The ATO ha..
What is petroleum resource rent tax?
Companies that are interested in a petroleum project may have lodgement, reporting and payment obligations under the petroleum resource re..
Cars and taxes for 2020-21 financial year
New car threshold amounts will be implemented from 1 July 2020. Understanding the new thresholds and how they may affect your small busine..
Landlord tax obligations under COVID-19 circumstances
Property investors may have a number of tenants that have temporarily paused their rent payments or are not paying the full amount of rent..
Claiming self-education expense deductions
Individuals upskilling and educating themselves during these down times may be eligible to claim a deduction for their self-education expe..
Closely held payees exemption to be extended
Employers with 19 or fewer employees are temporarily exempt from reporting ‘closely held (related) payees’ through Single Touch Payroll en..
What you need to know about fringe benefits tax
A fringe benefits tax (FBT) is a tax paid on benefits provided to employees (usually non-cash). FBT is calculated based on the gross taxab..