Legislation to make certain electric vehicles exempt from Fringe Benefits Tax (‘FBT’) has now been enacted into law.
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The AAT has also held that a taxpayer, an Australian chef with over 20 years’ experience both in Australia and overseas, was an Australian resident for taxation purposes in the 2016 income year.
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There are various courses of action available to the ATO when trustees of self-managed super funds ('SMSFs') have not complied with the super laws, including applying administrative penalties.
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The Government has launched an awareness campaign to help company directors get their director identification number ('director ID') as the 30 November deadline approaches.
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Director Nick Ellingsen provides expert comments in an article for Vet Practice Magazine
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One of many responsibilities trustees have when managing an SMSF is valuing the fund's assets at market value.
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The AAT has held that a partnership’s entitlement to $16,361 of input tax credits claimed for the quarterly periods of 1 July 2012 to 31 March 2017 had ceased by the time the associated BASs were lodged with the ATO on 21 June 2021, and therefore the ATO did not need to pay the taxpayer a refund.
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The ATO is reminding employers that have taken on new employees that those employees can complete a TFN declaration through ATO online services, and that this is an easy way for them to provide both their employer and the ATO with the information needed.
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Director Greg Mawer along with one of our clients Adam are launching a social enterprise supporting mental health and making Australia’s best beef jerky.
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The ATO is reminding taxpayers that have a residential rental property, to take care when making claims for ‘second-hand depreciating assets’ used in their properties.
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The YourSuper comparison tool helps individuals compare MySuper products and choose a super fund that meets their needs.
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The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses.
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Director Greg Mawer was asked to share some insights on budgeting in this article for news.com.au recently.
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The Federal Court has agreed with the ATO that a lecturer providing services to a higher education provider was a common law employee and therefore entitled to superannuation support, despite being engaged as an independent contractor.
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Director Greg Mawer was asked to share some insights on tips to fight rising inflation and interest rates in this article for Yahoo Finance recently.
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The ATO is focusing on four major concerns this tax season when it comes to rental properties.
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The ATO has observed an increase in the number of SMSFs that fail to lodge their first annual return and become what the ATO refers to as ‘NEVER’ lodgers.
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The ATO has updated the cents per kilometre rate relating to individual car expenses for the 2023 income year
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The ATO announced that it will be focussing on the following matters for small business tax returns for the 2021/22 year
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We are pleased to announce that Accumulate has been recognised as a finalist in the 2022 Australian Small Business Champion Awards.
We would like to thank all of our great clients for choosing to work with us to achieve your goals.
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