“We are pleased to announce that we have been awarded Top 25 Most Popular Accounting and Tax Services for 2019 by the Search4Accountants Team.”
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“Editor: With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues to consider, including the possible FBT and income tax implications of providing 'entertainment' (including Christmas parties) to staff and clients.”
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“The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019…”
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“As the ATO's data-matching capabilities increase, they are paying close attention to capital gains made on shares, property and cryptocurrency…”
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“The ATO has provided a novel, though important, reason for businesses to update their ABN details: to help businesses to manage the coming disaster season.”
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“From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee ('SG') from some of their employers, to help them avoid unintentionally going over the concessional contributions cap.”
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“Editor: Unbelievably, scammers are still successfully bilking Australians out of tens of thousands of dollars, as a recent ATO scam report shows.”
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“The ‘cents per kilometre’ method broadly allows an individual taxpayer to claim up to a maximum of 5,000 business kilometres per car, per year without the need to keep any written evidence (e.g., receipts) of car expenses.”
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“The Federal Court recently handed down two decisions relating to the personal services income ('PSI') rules. Income is classified as PSI when more than 50% of the income received under a contract is for a taxpayer’s labour, skills or expertise…”
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“The ATO is reminding businesses that are looking to expand or improve their business and thinking of buying new or second hand assets, that medium sized businesses with a turnover up to $50 million (but at least $10 million) are eligible for the instant asset write-off.”
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“We are pleased to announce that we are Finalists in the 26th Belmont and Western Australia Small Business Awards 2019. We would like to thank all of our great clients for choosing to work with us to achieve your goals.”
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“The ATO will match the data provided by the State and Territory motor vehicle registering authorities against the ATO’s taxpayer records with the objective of identifying those who may not be meeting their registration, reporting, lodgment and payment obligations.”
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“The ATO is urging taxpayers who receive any foreign income from investments, family members or working overseas to make sure they report it this tax time.”
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“The ATO has published some of the most unusual claims that they disallowed last financial year.”
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“Taxpayers with private health insurance should be aware that insurance providers are no longer required to provide statements to their members.”
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