ATO

Is EOFY the best time to shuffle superannuation?

The end of the twelve-month is usually a mad dash for finance professionals. For many, the month of June is that the finish of the year professionally, and in addition to that, they will come back with pressure to finish tasks, meet targets, and the end comes. There’s conjointly the realization of the requirement to […]

10 Jun, 21

The Most Popular Professional In Which You Can Claim Some Surprising Deductions

As the time for filing the return comes, you start looking for those receipts that you can use to claim the deductions. The common rule is that if you have incurred any expenses related to your job or any work expense that the employer has not reimbursed, you can claim the deduction for it. There […]

10 Jun, 21

Deductions that people can claim after filing the Tax Return

When you file the tax return or complete it, you are eligible for the deductions to claim some expenses. There are so many expenses on which you can get the deductions, and mainly these expenses include work expenses. Most of the cost is incurred while earning the employment income. Here in this article, we will […]

09 Mar, 21

Aussie workers to be given choice between super increase or wage hike

Election battlelines are being drawn as the government considers a proposal that would force workers to choose between superannuation and take-home pay. Aussies could be forced to choose between superannuation and take-home pay under a proposal being considered by the federal government.

04 Feb, 21

Varying PAYG instalments because of COVID-19

Varying PAYG instalments If you worked under ABN and your tax returns for the previous years generated tax payable amounts, the ATO would have arranged for a Pay As You Go (PAYG) quarterly instalment payment plan for you. This payment plan will be based on a projection of your ABN income for the financial year, referring […]

20 Jan, 21

The sole trader in a win-win state for Jobkeeper test case

The AAT has overturned the decision from the Australian Taxation Office to deny a sole trader access for Jobkeeper after the Administrative Appeals Tribunal traced down that its backdated ABN registration has satisfied the integrity rules set within the norms. In December 2020, the Administrative Appeals Tribunal ruled out te sole trader Jeremy Apted was […]

23 Sep, 20

Josh Frydenberg is about to introduce tax cuts

Josh Frydenberg has made it very clear that it is high time to introduce income tax cuts. This decision has been made by seeing the state of the Australian economy in the worst position since the time of World war 3. The GDP of Australia has fallen by 7 percent for the quarter of June. […]

18 Sep, 20

Tax office to punish people engaged in fraudulent activities to save tax

In a recent press release, the taxation office of Australia said that it will punish the people doing super withdrawals to minimize the payable tax. The taxation office said that there is a certain loophole that enables people to avoid the payment of personal income taxes. And the office is about to punish all such […]

18 Sep, 20

ATO Doesn’t Consider the Job Keeper Payments as a Part of Aggregated Turnover

JobKeeper payments have been considered as assessable income. But there are certain concerns regarding the status of JobKeeper payments as whether they fall under ordinary income or statutory income. For those who don’t know about it, under this scheme, the business which has been affected the most due to the outbreak of Corona COVID-19 will […]

17 Jul, 20

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Accounting, Business, JobKeeper, Payroll, Taxation
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Get quick tax refunds by understanding the right way to file your returns: ATO

ATO has announced a big refund on tax returns after the outbreak of global pandemic ‘Coronavirus.’ Resulting in, lots of Australians are anticipating more refunds than ever before. But if you don’t want to fall into the tax trap, which may prove costly to you, some crucial points become essential to note down in your […]