TAX TIPS FOR SMALL BUSINESS

The ATO continues its focus on small businessindicated. The ATO has received additional funding through the Black Economy Taskforce and its enhanced enforcement covers lodgment, employee entitlements, mobile strike teams, tax system integrity and the use of data and technology. The new Tax Integrity Centre and whistleblower protections will allow the community to report suspected …

TAX TIPS FOR EMPLOYEES

Do you know the tax deductions and offsets for which you might be eligible this financial year? Just remember that for an expense to qualify: you must have spent the money yourself it must be directly related to earning your income it must not have been reimbursed you must have the relevant records to prove …

2019/20 Federal Budget

1. Personal income tax 1.1 Changes to personal income tax rates The Government has proposed the following changes to the personal income tax rates: 1. From 1 July 2022, the Government will increase the upper threshold of the 19% personal income tax bracket to $45,000. The rates below do not include the Medicare Levy.   …
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