Client Alert July 2018
Business lending practices in spotlight at Royal Commission
Bank lending practices for small and medium enterprises (SMEs) were in the spotlight when the Financial Services Royal Commission (FSRC) held its third round of public hearings in…
Single Touch Payroll: Are You Ready?
If you run a business, you've probably heard a lot about Single Touch Payroll (STP) recently, so what is it and how does it affect you? Basically, STP aligns your reporting obligations to the ATO to your payroll processes. Each pay cycle you…
Uber Not An Employer
Employer groups have been dealt a blow after a Fair Work Commission finding that Uber was not an employer and thus unfair dismissal laws did not apply. With the rise of the gig economy, employment conditions such as minimum wages and conditions,…
Increase in Payroll Tax threshold for NSW
This week, the NSW state budget revealed that the payroll tax threshold would be increased from $750,000 to $1 million over the next four years.
The threshold will be progressively increased, starting with an increase to -
$850,000 for…
Personal Income Tax Bill passes both houses of Parliament
The Government has secured enough support from the cross-bench senators to enable passage of the Treasury Laws Amendment (Personal Income Tax Plan) Bill 2018.
Under the Bill (which must now receive Royal Assent), the following changes will…
Client Alert - Explanatory Memorandum (June 2018)
Tax planning
With the end of the 2018 income tax year rapidly approaching, this issue of Client Alert draws attention to year-end tax planning strategies and compliance issues that taxpayers need to consider to ensure they are in good tax health.…
Client Alert June 2018
Tax planning
With the end of the 2018 income tax year rapidly approaching, this issue draws attention to year-end tax planning strategies and compliance matters that you need to consider to ensure good tax health. It focuses on the most important…
Pre-lodgement Compliance Review: What You Need To Know
As a part of the ATO's concerted efforts to engage taxpayers earlier and identify risks before they become an issue, Pre-lodgement Compliance Reviews (PCRs) are increasingly being used.
PCRs have previously exclusively been in the domain…
LEGAL EARLY RELEASE OF SUPER
Most people know that superannuation cannot be accessed until retirement or in exceptional circumstances. What exactly are these exceptional circumstances have caused considerable confusion and allowed unscrupulous individuals to promote illegal…
Client Alert - Explanatory Memorandum (May 2018)
ATO closely examines work-related car expenses
The ATO has announced that it will be closely examining claims for work-related car expenses in 2018 tax returns. The ATO is concerned about taxpayers making mistakes or deliberately lodging false…