More COVID-19 business grants are now tax-free The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses. A State
ATO’s small business focus for 2022 income year The ATO announced that it will be focusing on the following matters for small business tax returns for the 2021/22 year: Deductions
ATO priorities this tax time The ATO has announced four key areas that it will be focusing on for Tax Time 2022: Record-keeping. Work-related expenses. Rental property
2022-2023 Budget Measures that are now lawLow and Middle Income Tax Offset A measure that will no doubt be beneficial for individual taxpayers is the increase in the Low and
Tax deductibility of COVID-19 test expenses After much speculation, the Government announced that COVID-19 tests, including Polymerase Chain Reaction (‘PCR’) and Rapid Antigen Tests (‘RATs’), will be both: tax-deductible;
As some dates may vary, please ensure you contact the Australian Taxation Office to check any dates in question. When the due date for lodgment or payment falls on a Saturday,
Super is now following new employeesThe ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the
Preparing for the new Director ID regime As part of its Digital Business Plan, the Government announced the full implementation of the ‘Modernising Business Registers’ program. This included recently enacted
Extra super step when hiring new employees Employers may soon need to do something extra when a new employee starts to work for them.Currently, if a new employee does not
Reminder of superannuation caps indexation for 2022 From 1 July 2021, the superannuation contributions caps have been indexed for the 2022 income year. The new concessional contributions cap for the
