Varying PAYG instalments because of COVID-19

Varying PAYG instalments because of COVID-19

If you earn business or investment income, the Tax Office’s compulsory PAYG instalments system helps you manage your expected tax liability on income from your business or investments for the current income year by making smaller regular payments. Typically,...

Tax return organisation tips

Tax return organisation tips

Despite the current COVID-19 world in which we live, the procedures for completing and lodging tax returns remains pretty much the same. So, before we talk about your tax return, certain information will be needed. Of course, these days the Tax Office pre-filling...

Remote AGMs and document signing allowed

Remote AGMs and document signing allowed

Companies should note that the government made a determination just before the end of the financial year that permits companies to hold annual general meetings by electronic format. Also, companies may execute a document, without using a common seal, by electronic...

Super early release and re-contributions: Tempting, but beware

Super early release and re-contributions: Tempting, but beware

There are no restrictions on how the money released under the new coronavirus compassionate ground early release scheme is spent. This means that an eligible individual is free to spend this money on anything they choose, or save it for future expenses. They are also...

QLD Small Business COVID-19 Adaption Grant

QLD Small Business COVID-19 Adaption Grant

The Qld Government has released a second round of Small Business Adaption Grants (up to $10,000). The last round was fully subscribed in less than a day – so you want to apply, make sure you are ready to lodge when the portal opens on 1 July. If your business is...

Laws on bankruptcy changed temporarily to help cope with COVID-19

Laws on bankruptcy changed temporarily to help cope with COVID-19

The government has temporarily changed bankruptcy law to help protect people who are facing unmanageable debt as a result of COVID-19 economic impacts. If you are in financial difficulty, application can be made for temporary debt protection, which prevents recovery...

Expatriates: Part-year resident or non-resident for tax purposes?

Expatriates: Part-year resident or non-resident for tax purposes?

So what happens from a tax point of view when a person leaves Australia part-way through the income year? How is the income they derived before that time taxed? And how is any income they derived after that time taxed (whether from Australian or foreign sources)?...

Happy employees and HR compliance

Happy employees and HR compliance

If you got audited by Fair Work would you be confident and comfortable with the level of your HR compliance? Whether you have employees – or contractors who should be classified as employees – this is a question you simply must confront on a regular basis...

Three wise FBT tips for Christmas

Three wise FBT tips for Christmas

Employers know that popping a champagne cork or two to celebrate the festive season lets staff know their efforts are appreciated, but the well-prepared business owner will also know that a little tax planning can help ensure that it’s not the business that ends up...

When your tax records are lost or destroyed

When your tax records are lost or destroyed

Sometimes taxpayers find themselves in a situation where they simply have no records to back up a tax claim. There can be many reasons for this, such as losing documents when moving home (either paper or electronic), or technology failures that end up with the same...