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Are you capturing all your work-related deductible expenses to make the most of your tax return? Income The Australian Taxation Office (ATO) automatically receives information from your employers about salary and wages that you have been paid for the financial year. You need to declare all income from other sources on your tax return as…
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The information overload is real. The ramifications of Covid-19 on businesses are being felt and speculated upon every minute of each day – probably leaving you feeling like a rabbit caught in the headlights. Here’s eight simple words also beginning with C to help clarify your vision. 1. Cash. It’s the oxygen for your business,…
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Did you know that the federal government has an online service called “Stay Smart Online” to alert internet users of the current security threats we all face? This website is supported by an email service reporting the latest threats caused by out-of-date browser software and programs. Plus details of the latest scams doing the rounds…
Lending money to friends or family – should you do it?
What would you do if a family member asked to borrow money – besides the less painful option of beating yourself over the head with a fence paling? You want to help, but you’re right to be wary. It’s a difficult subject that despite everyone’s best intentions, often ends in tears. You’ve worked hard, saved…
COVID 19 Impact New Arrangements – WHAT HOME OFFICE EXPENSES ARE ALLOWED?
If you perform some of your work from your home office, you may be able to claim a deduction for the costs you incur in running your home office, even if the room is not set aside solely for work-related purposes. COVID-19 IMPACT – NEW ARRANGEMENTS The Australian Taxation Office (ATO) has announced special arrangements…
Payroll Updates: Minimum Wage, Award Changes and Parental Leave
Minimum Wage Staggered Increases and Award Changes The national minimum wage increased on 1 July by 1.75% to $19.84 per hour (or $753.80 per week). The minimum wage increase applies to employees on JobKeeper if their pay rate is defined by an award rate or the national minimum wage. This means the amount of JobKeeper…
