Category Archives: Accounting Information

New Guidelines for employers providing utes, work vans, etc.

For a long time there has been a misconception that work vehicles such as utes and panel vans have a blanket FBT exemption, and the ATO has got this in its sights. About a year ago, the ATO issued a … Continue reading

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ATO to target individual tax claims this tax season

With an additional $130.8m government funding injection, the ATO has signalled that this tax season it will target work related expense claims by individuals. Having recently conducted a pilot program where over 850 individual tax returns were audited, the ATO … Continue reading

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Super Guarantee Charge Amnesty Announced

The federal government’s recently announced 12 month Amnesty on underpaid super is welcomed news for employers, providing a one-off opportunity to self-correct past super guarantee (SG) non-compliance without penalty. If the legislation is passed as announced, the Amnesty will be … Continue reading

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Victorian Long Service Leave changes soon to begin

In May this year, the Long Service Leave Act 2018 (Vic) received Royal Assent, signalling some significant changes to the Long Service Leave entitlements of Victorian employees, and impacting all Victorian employers The changes, which will take effect from 1st … Continue reading

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Proposed tax shock for those engaging contractors or employees

The May 2018 Federal Budget has left little doubt that anyone looking for a tax deduction for payments to contractors or employees had better get their house in order. Currently payers are required to withhold the required amount of tax … Continue reading

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Xero Online Accounting Software

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Xero is the new and innovative way to complete your accounting records. Have you ever asked any of the following questions? 1. How can I spend less time working on my books? 2. Can bookkeeping be simplified? 3. Everythings on … Continue reading

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Big changes ahead for GST on property developments

In the ever-changing tax landscape, a GST Bill currently before Parliament is bound to have significant ramifications for both purchasers and property developers. If the Bill passes in its current form, from 1 July 2018, purchasers of new residential premises … Continue reading

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Uber drivers beware!

As many are now aware, Uber drivers need to register for GST by the time they complete their first drive. The ATO is well aware of the identity of Uber drivers and has begun to send “please explain” letters to … Continue reading

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The Sharemarket Crash: 30 years on

For some of you reading this blog, 1987 will seem like ancient history – way before you were born. For others, the share market crash of that year remains unforgettable. As a young accountant at the time, it seemed like … Continue reading

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Log books: keeping you out of trouble

The ATO is critically looking at car log books to make sure they have been correctly completed. Generally you need to keep a log book for at least 12 weeks, and once you have kept it, you can in most … Continue reading

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