Can I claim a tax deduction for my gym membership?
There are lots of reasons to keep fit but very few of them have to do with how we earn our income.
More super for lower-income workers on the way
Did you know that lower-income earning individuals who earn less than $450 per month are currently not eligible for superannuation guarantee (SG) contributions from their employer? The $450 per month threshold also applies if an employee has more than one part-time or casual job and they earn more than $450 per month from all jobs combined. It simply comes down to the amount earned per job which can disadvantage many younger or lower-income workers.
Highlights of the Federal Budget 2022/23
This is a safe, ballot box friendly Budget as expected with a focus on jobs, cost of living, home ownership and health. Some of the highlights of last night’s Federal budget include;
Are Your Contractors Really Employees?
Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes.
Immediate Deductions Extended
Temporary full expensing of business assets has now been extended to 30 June 2023
FBT Issues – March 2022
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees.
What the new Super Contribution rules mean for you
Are you over 67 years and looking to put extra money into your superannuation fund? Are you no longer working? The rules are changing from [...]
The SME Recovery Loan Scheme is now open
Loans for small to medium enterprises (SMEs) are available until 31 December 2021 under the Federal Government’s SME Recovery Loan Scheme. The scheme is designed [...]
ATO temporarily reinstates paper instalment notices
As part of the ATO’s digital improvement program, they recently made the decision to stop issuing paper quarterly PAYG & GST instalment notices from September [...]
JobKeeper extension’s alternative turnover tests
The extension of the JobKeeper scheme is now based on current GST turnover, not projected turnover. The basic test compares year-on-year turnover. If there were [...]