Tax Debt Payment Plan
Taxpayers who can’t pay their tax by the due date should consider whether to request a payment arrangement with the ATO. An arrangement to pay in instalments does not vary the time when the amount is due and payable, and therefore does not affect any liability to pay the general interest charge, or any other […]
Super Guarantee: “Employees” or “Independent Contractors”?
An “employee” for superannuation guarantee purposes includes anyone who is an employee at common law. The relationship between employer and employee is often described as a “contract of service” whereas the relationship between principal and independent contractor is a “contract for services”. However, defining the contractual relationship between the employer and employee can be a […]
Sort Out the Income You Must Lodge on Your Tax Return
Broadly speaking, if you are a resident of Australia, you must annually lodge an income tax return and pay annual taxes on worldwide income from many sources. If you are lodging directly, the deadline is October 31 for the previous tax year ending on June 30. If the deadline falls on a weekend, you can lodge on the […]
Super Guarantee: “Employees” or “Independent Contractors”?
An “employee” for superannuation guarantee purposes includes anyone who is an employee at common law. The relationship between employer and employee is often described as a “contract of service” whereas the relationship between principal and independent contractor is a “contract for services”. However, defining the contractual relationship between the employer and employee can be a […]
Using the Blackhole Expenditure Rule – Starting A Business
It costs money to start a business, and generally you cannot deduct those expenses because they are not incurred as part of running a company. Money spent to start a business is not considered as the cost of carrying on business. For example, before your company starts operating, it cannot deduct such costs as: Performing […]