by admin | May 11, 2023 | Did You Know, News
Personal income tax measures Increasing the Medicare levy low-income thresholds. The Government will increase the Medicare levy low-income thresholds for singles, families and seniors and pensioners from 1 July 2022 as follows:- The threshold for singles will be...
by admin | May 8, 2023 | Did You Know, News
A friend’s accountant suggested that they could reduce interest on non-deductible debt by using company cash to offset their personal mortgage, then transferring the cash back by 30 June. Is this an acceptable strategy? This might initially sound like a brilliant...
by admin | May 8, 2023 | Did You Know, News
The Government has announced that it will enshrine a right to superannuation payments in the National Employment Standards (NES). Currently, workers not covered by a modern award or an enterprise agreement containing a term requiring an employer to make superannuation...
by admin | May 7, 2023 | Did You Know, News
From 1 July 2023, access to the Government’s Home Guarantee Scheme will be expanded to joint applications from “friends, siblings, and other family members” and to those who have not owned a home for at least 10 years. The eligibility criteria for access to the First...
by admin | May 5, 2023 | Did You Know, News
The Australian Taxation Office (ATO) has launched a full-on assault on rental property owners who incorrectly report income and expenses. The ATO’s assessment, based on previous data matching programs, is that there is a tax gap of around $1 billion from incorrect...
by admin | May 3, 2023 | Did You Know, News
The explosion of OnlyFans, YouTubers, TikTokers and others all offer an opportunity for ‘content creators’ to profit from the audiences they generate. But now the Tax Office has given notice to the booming industry. Back in October 2022, OnlyFans CEO Ami Gan announced...
