Payday Super is Here! Starting 1 July 2026, employers have said goodbye to being able to pay employees super on a quarterly basis. They must now ensure that super contributions land in their employees chosen funds’ within 7 business days of the actual payday, for EVERY pay. How to do this Most modern payroll…
As the end of a financial year approaches it can be a good time to review your records. It’s also a great time to decide whether to implement any tax saving strategies before year end. All Accounting & Tax have produced some end of year tax tips for your consideration below. End of Year Tax…
Here are some of our tips for individuals to get larger tax refunds and put more money back into your pocket. Top 6 Individual Tax Tips
IMPORTANT – Trust Distribution Minutes to be completed before 30 June This a reminder of the recent changes made by the Australian Taxation Office in relation to discretionary trusts. Over the past 2 years the ATO has really been focusing on the compliance of trusts. Recently they have announced that: All Trustee distribution resolutions must…
The Australian Government has announced a number of Stimulus measures relating to the effects of COVID -19 on businesses and individuals. 2 of the most prominent stimulus announcements are for businesses that have employees. These include the Cashflow Stimulus for Businesses and the JobKeeper Payment. One of the best places to find up-to-date information regarding…
The COVID-19 epidemic is changing how we interact with people and businesses. We are continuing to support you with our full range of services and not much has changed with how we operate. In the current environment we do however realise that peace of mind is an important thing. Therefore we have a full statement…
As of 1/7/19 most employers that have staff will need to use Single Touch Payroll (STP). This means that your wages information will be sent electronically to the Australian Taxation Office (ATO) EVERY PAY PERIOD. If you have employees you should ensure that your bookkeeping software is STP compliant. Those not using software already you…
We see new ATO warnings as a reminder to new and existing rental property owners to make sure you are CLAIMING all possible tax deductions. DON’T MISS OUT on thousands of dollars by not claiming capital works deductions or allowable depreciation amounts. In most cases this is the second biggest rental property deduction (after interest)…
For most property investors one of the biggest tax deductions is depreciation and special building write-offs. The May 2017 budget made some changes that affect investors purchasing 2nd hand properties after 7.30pm 9/5/17. Below is a good video from BMT discussing some of the changes – BMT Parliament Passes Changes to Depreciation Legislation Most of…
All Accounting and Taxation has produced a number of tax checklists for our clients. These outline the information you should provide to ensure you get the best possible refund for your personal circumstances. Checklists