Single touch payroll: When your reporting can cease - Tax Accountants Crows Nest
A business may no longer be required to lodge single touch payroll (STP) reports for a number of reasons. These are if your business no longer has employees, has ceased trading, has changed structure, is not paying employees for the rest of the year, or has paused due to COVID-19.
Getting a tax valuation from the ATO - Tax Accountants St Albans
Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value (and therefore the tax that applies to it) may need to be determined.
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JobMaker hiring credit: What you need to know - Tax Accountants Sunny Bank
The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October 2021. It is designed to improve the prospects of young individuals getting employment, by incentivising employers to hire them, following the devastating impact of COVID-19 on the labour market.
Claiming interest expenses for rental properties - Tax Accountants Ringwood
Interest is a common deduction claimed by taxpayers. Generally, interest is seen as being inherently deductible where it is incurred in gaining or producing assessable income.
Small business CGT concessions: Goal posts moved on vacant land and active assets - Tax Accountants Richmond
Businesses wanting to claim CGT concessions for active assets may find hope in a recent Full Federal Court decision on a long-contested vacant land case.
Calling time out on your business? Some essentials you’ll need to know - Tax Accountants Parramatta
When you first went into business, either buying an established enterprise or starting from scratch, probably the last thing on your mind was the day you would close the door for the last time.
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