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Australian Federal Budget Review – 2017/18   Write off for Small Business - Instant $20,000 extended for further 12 months to 30 June 2018 The threshold amount was due to return to $1,000 on 1 July 2017. As a result of this announcement, SBEs will be able to...

International Tax for Individuals Coming to Australia on Working Holiday Visas   From the 1st January 2017 there are new changes to backpacker tax withholding rates. Employers need to be aware that they will need to take out more tax from any employees who are on...

QUICK TIPS FOR AUDITS OF TRUST ACCOUNTS Tip  One You need to maintain proper records for all funds held on trust at all times, failure to do so could result in fines and penalties. Tip Two You will receive two unannounced examinations from the auditor each financial...

Itinerant "flexibility" not so flexible It is generally assumed that there is a degree of flexibility within the tax law over particular work travel claims that arise where the nature of the employment is deemed to be itinerant. If you do itinerant work (or have...

Taxable Payment Reports - Building & Construction Industry Businesses in the building and construction industry need to report the total payments they make to each contractor for building and construction services each year. You need to report these payments to...

SuperStream - Are you compliant! What is SuperStream? Superstream has been introduced to ensure employer contibutions are paid in a consistent, timely and efficient manner. As an employer you are required to: send all contribution data electronically in a standard...

PRIVATE HEALTH INSURANCE - HANDY INFO TO KNOW Many people don’t realise that they can enjoy the benefits of private health insurance for the same price or less then they have to pay in tax for not having private hospital cover. The Federal Government wants to relieve...

Individuals Tax Tips – What are you eligible for? Do you know what tax deductions and offsets you may be eligible for? The following tips may help you legitimately reduce your tax liability in your 2016-17 return. Claim work-related deductions Claiming all your...