What is for you in Government’s coronavirus stimulus package?

The government has announced a range of measures to support the economy, business and employment in the face of the coronavirus health crisis. The measures include the below. Cash Flow Boost for employers employers with an aggregated annual turnover of under $50 million (based on prior year turnover) will receive a payment of $2000 to …

Single Touch Payroll(STP)

Single Touch Payroll (STP), is a new way of reporting tax and superannuation information to Australian Taxation Office(ATO). All businesses used to report this information to the ATO once a year previously. Now with STP you report employees’ payroll information – such as salaries and wages, pay as you go (PAYG) withholding and super each …

Taxable payments annual report (TPAR)

You may need to lodge a Taxable payments annual report (TPAR) by 28 August each year if you are a: Business providing:   building and construction services cleaning services – for contractor payments from 1 July 2018 (first report due by 28 August 2019) courier services – for contractor payments from 1 July 2018 (first report due by 28 August 2019) road freight services – for contractor …

TAX TIPS FOR INVESTORS

Many Australians invest in property, financial markets and other assets, both here and overseas. In 2016-17, almost 4 million individuals received dividend income of $23.4 billion while 2.1 million reported rental income totalling $44 billion. $20 billion in capital gains were reported by almost 700,000 individuals, while more than 900,000 reported capital losses of $27 …

TAX TIPS FOR STUDENTS

If you’re a student, lodging an income tax return may seem a bit daunting. Parents who may be helping to navigate these uncertain waters can also find it challenging. GETTING YOUR REFUND If your total taxable income for the year ended 30 June 2019 is below the tax-free threshold of $18,200 you may not need …
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