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‘Cash in hand’ payments to workers no longer tax deductible
July 26, 2019The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible. ‘Cash in hand’ refers to cash payments…
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Upcoming superannuation changes could mean you lose your insurance
June 8, 2019Disclaimer: This post does not constitute financial advice and is only general in nature. We always recommend speaking to a financial adviser before making decisions about the adequacy of your…
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Wanting your tax return completed early? Consider this first…
June 8, 2019Taxpayers in a rush to file their tax return early with the ATO this year face an extra level of complexity due to the results of the federal election. The…
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2018/19 Year-end Individual Tax Return Checklist
June 8, 2019Please review the attached PDF and information contained within and please don't hesitate to contact our office for assistance or to book an appointment. KPA-Pre-Tax-Time-Individual-Checklist-and-StrategiesDownload
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New rules for immediate write-offs
June 6, 2019New rules for immediate write-offs Small business entity ('SBE') taxpayers who choose to depreciate their assets under the simplified depreciation rules are entitled to an immediate deduction with respect to…
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Onboarding your new employee
May 28, 2019Operating a small business and thought about what exactly you need to do to onboard your new employee? Now, it could be simpler than you thought. Each new employee needs…
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ATO warning regarding annual leave loading and OTE
April 2, 2019The ATO has recently warned employers that it considers that annual leave loading should normally be part of ordinary time earnings ('OTE') for superannuation guarantee ('SG') purposes, unless it is…
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Major changes to director penalty notices now effective
April 2, 2019Treasury Laws Amendment (2018 Measurements No. 4) Bill 2018 received Royal Ascent on 1 March 2018. This legislation impacts directors that have unreported employees' Superannuation Guarantee liabilities. It will severely…
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ALP Key Tax Policies
March 4, 2019Snapshot of the ALP key tax policies Income Tax Reforms 1. Restrict deductions on personal tax-related expenses to a $3,000 cap per individual, per year (Ref: Shadow Treasurer's and Assistant…
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Instant asset write off to be increased to $25k
January 30, 2019Yesterday, The Morrison Government announced its intention to increase the instant asset write off to $25k. The write off will be for small businesses with a turnover of below $10m…
Recent posts
- 2018/19 Year-end Individual Tax Return Checklist
- 2020/2021 Federal Budget
- ALP Key Tax Policies
- ATO warning regarding annual leave loading and OTE
- Australian Cattle Herd Numbers Fall to Lowest Level in Over 20 Years
- COVID 19 – Federal Government Support
- Deferred repayments. Is accrued interest on deferred loans tax deductible?
- Fast-tracking tax cuts for small and medium businesses
- Financial Budgeting for Success
- Fraud risks in a COVID-19 environment
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