Some employers need to pay PAYG withholding liabilities to the ATO monthly, even if the BAS is lodged quarterly. The monthly instalment activity statement (IAS) and payment is due on…
Negative gearing is a heavily debated topic throughout the property industry and is often in the headlines at election time. As one of the major drawcards to investing in property,…
With the borders between the State and Territories all but open and 2021 in sight, there is a hunger for a return to ‘normal’. The recent Westpac-Melbourne Institute Index of…
The Reserve Bank of Australia cautions that the recovery will be uneven and drawn out and GDP is not expected to return to pre-pandemic levels until the end of 2021.…
We’ve had quite a few questions about the JobMaker hiring credit announced in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and…
Stimulating investment is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of…
At the recent Senate Estimates hearing, Jeremy Hirschhorn, the ATO’s Second Commissioner, stated that $120 million in JobKeeper payments had been clawed back from those either deliberately seeking to rort…
Over $34.4bn has been released from Australian Superannuation Funds under the COVID-19 early release scheme, the Australian Prudential Regulation Authority revealed. The figures, which do not include self-managed super funds,…
Tax Planning Guide The tax rates for the 2019/2020 Income Year are as follows: Resident Individuals Income threshold Tax Rates $0 – $18,200 Nil $18,201 – $37,000 19% $37,001 –…
Tax Planning Guide Imagine what you could do with tax saved? • Reduce your home loan • Top up your super • Have a holiday • Deposit for an Investment…