Individual Taxpayers: Super Guarantee rate rising 1 July 2021 – The superannuation guarantee rate will increase from 9.5 per cent to 10 per cent on 1 July 2021. Low-income tax offset increased. – The low-income tax offset (LITO) increased to $700 from 1 July 2020. (From $445). Extending the low- and middle-income tax offset (LMITO) – […]
Australian Tax Update – June 2021 Read More »
Tax-related scams and identity theft targeting Australians are on the increase. Find out how to reduce your risk. There has been a significant increase in tax-related scams, fraud attempts, deceptive emails and SMS schemes targeting Australians. The tax office warned the ‘robocalls’ were stemming from overseas scamming groups, coming through as pre-recorded messages which demand
Tax Scams and Identity Theft Read More »
Due to COVID-19 your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a deduction for at tax time. Tracking these expenses can be challenging, so from 1 March to 30 June 2020, ATO have introduced a temporary shortcut method. It’s a simple way to calculate these
Working from home during COVID-19 Read More »
The only constant about tax is change. Here are some of the tax changes coming into play from July 1, 2020: Company tax rate for small business reduced Changes to CGT for expats with Australian properties Single Touch Payroll begins for closely held businesses Instant asset write-off extended Spouse contributions into super Minimum drawdown for
EOFY: Ten tax changes from July 1 that small businesses need to know about Read More »
