by MRG Redshaw | Jan 24, 2020 | Superannuation, Tax
The maximum concessional (or tax deductible) contributions an eligible individual can make each year without breaching the cap amount is $25,000. Many salary or wage earners will not reach this level. Salary sacrificing additional superannuation contributions offers...
by MRG Redshaw | Jul 22, 2019 | Tax
On 27 September 2017 the Australian Taxation Office (ATO) issued discussion paper TPD 2017/2 for public consultation on the interpretation of ‘taxi’ for Fringe Benefits Tax (FBT) and the taxi travel exemption. After consultation, and considering administrative...
by MRG Redshaw | Apr 18, 2019 | Tax
Small Business Instant asset write off threshold increased from $25,000 to $30,000 per eligible asset. Eligibility also expanded to include medium-sized business with a turnover of up to $50 million per annum. This is effective from Budget night (2 April 2019) until...
by MRG Redshaw | Apr 2, 2019 | Tax
Ensuring that you have managed your finances correctly and that you are paying the right amount of tax is important for any business. However, what might also be concerning and often lesser known is that you may also need to lodge a Taxable Payments Annual Report. ...
by MRG Redshaw | Jun 8, 2018 | Alerts, Announcements, Tax
From 1 July 2018, purchasers of new residential premises or subdivision of potential residential land are required to withhold GST from the contract price and remit this directly to the ATO on or before settlement. The amount withheld will be 1/11th of the contract...
by MRG Redshaw | Jun 8, 2018 | Alerts, Announcements, Tax
The 2018/19 Federal Budget announcements were wide-ranging and much of the detail has not yet been released. The announcements included: > $20K accelerated depreciation extended until 30 June 2019 for Small Businesses > Introduction of a three-year cycle for...
