The ATO has extended (again) the ability to utilise the "shortcut rate" for claiming home office running expenses to 30 June 2021 (it previously only applied until 31 December 2020). The ATO's guideline allows certain taxpayers to claim a fixed rate per hour (80 cents per...

The ATO has announced it will engage in the following data-matching programs: it will acquire motor vehicle registry data from state and territory motor vehicle registry authorities for 2019/20 through to 2021/22, with records relating to approximately 1.5 million individuals to be obtained each financial...

The JobMaker Hiring Credit is being administered by the ATO and provides a wage subsidy payment directly to employers as an incentive to employ additional job seekers aged 16 to 35 years. Registrations for the JobMaker Hiring Credit scheme opened on 7 December 2020, and claims...

The ATO recently announced the indexation of the General Transfer Balance Cap (TBC) to $1.7 million which will occur on 1 July 2021. As the ATO indicated, once indexation of the general transfer balance occurs, no single TBC will apply to all individuals. Instead, individuals...

We encourage all of our clients to lodge their income tax returns and BAS’s on time, not only for their benefit (e.g. avoid incurring penalties) but also to keep our practice lodgement percentage high. Why does this matter? As a practice if our on-time lodgement percentage is...

Super Guarantee Contributions The deadline for Super Guarantee Contributions for Quarter 2 2020-2021 is 28 January 2021. Please remember to make contributions to funds by this date (and allow 3-4 days processing time) Employers who do not pay minimum super contributions for quarter 2 by this date must...

To assist with the recovery from the impact of COVID-19, the Australian Government is providing support to all employers who engage a new Australian Apprentice. The $1.2 billion Boosting Apprenticeship Commencements wage subsidy will support businesses and Group Training Organisations to take on new apprentices and...

Important changes to Australia's insolvency laws commenced operation on 1 January 2021. The measures apply to incorporated businesses with liabilities less than $1 million and are expected to cover around 76 per cent of businesses currently subject to insolvency. The new rules do not apply to...

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