Tax Saving

Payroll Tax – Some changes for Queensland

From 1 July 2019, the Queensland payroll tax threshold has increased from $1.1 million to $1.3 million annually, resulting in some long overdue (albeit small) relief for Queensland employers. The rate for payroll tax remains the same at 4.75% for businesses with wages up to $6.5 million, but will increase for those over this to [...]

Payroll Tax – Some changes for Queensland2019-08-20T11:34:58+10:00

But Commissioner, my antique Louis Vuitton wasn’t taxable!

The ATO has obtained data from 25 insurance companies regarding the insured assets of taxpayers.  Why have the ATO obtained this information and what are they looking to gain from it? Essentially the ATO are looking to achieve two outcomes: Identify taxpayers who are operating outside the taxation system; and Identify taxpayers who are not [...]

But Commissioner, my antique Louis Vuitton wasn’t taxable!2019-08-12T10:15:41+10:00

What evidences are required to prove your residency status for tax purposes?

The recent Federal Court decision in Harding v FC of T [2018] FCA 837 provides some clarity on the tax residency of individuals and sheds some light on the uncertain area of law. The case examined residency according to ordinary concepts and domicile test in regards to Mr Harding's circumstances, and the courts have [...]

What evidences are required to prove your residency status for tax purposes?2019-03-13T12:44:07+10:00

Recent QBCC changes (January 2019)

The building and construction industry has always been one of the most heavily scrutinised and regulated industries, with 2019 shaping up to be a year re-enforcing this view, with new reforms from the QBCC commencing 1 January 2019. Author Michael Kerwin Why the need for change: We will [...]

Recent QBCC changes (January 2019)2019-01-22T15:21:09+10:00

Record keeping – requirements & tips!

Why is recordkeeping necessary? The Australian taxation system is based on taxpayers self-assessing their tax lodgements.  Each taxpayer is responsible for determining the income they need to declare and what expenses are deductible.  Taxpayers need to maintain adequate records and must be able to substantiate these if requested by the ATO. Author [...]

Record keeping – requirements & tips!2018-12-11T08:02:57+10:00

Look out, look out, scams about!

It appears as though scammers are doing the rounds again, pretending to be the ATO and telling victims they have committed fraud against the tax office. Receiving these types of phone calls can be quite upsetting and stressful, however our advice is that you should hang up and ignore it.  Author Rhiane Sherriff [...]

Look out, look out, scams about!2018-12-10T08:39:24+10:00

If you have fewer than 19 employees STP now applies to you!

Single Touch Payroll (STP) was introduced from 1 July 2018 for businesses with 20 or more employees. On 5 December 2018 the senate passed the Bill which extends STP to employers with 19 or fewer employees from 1 July 2019. Author Claire Roberts So what does this mean [...]

If you have fewer than 19 employees STP now applies to you!2018-12-11T07:53:53+10:00

Changes to Xero Subscription

As of the 28th of September 2018, Xero will be changing the pricing of their subscriptions for all existing and new subscribers. These changes will be from Premium 5 to Premium 100 and will include additional features and improvements in payroll. If you are currently on the Starter or [...]

Changes to Xero Subscription2018-09-10T10:11:09+10:00

How will My Property be Taxed in the Sharing Economy?

The sharing economy is continually evolving and growing. As the sharing economy grows in popularity, the tax issues arising are increasingly complex. We’ll explore in further detail the different tax outcomes for renting a property and car space. Author Matthew Yarrow Property Rental Income and Deductions (e.g. Airbnb) Income [...]

How will My Property be Taxed in the Sharing Economy?2018-12-05T13:50:04+10:00

Alert: Property Developers – Preparing for new GST withholding regime

Treasury Laws Amendment (2018 Measures No. 1) Bill 2018 received royal assent on 29 March 2018, flagging the start of a new GST withholding system significantly changing the way developers remit GST from 1 July 2018. Author Michael Kerwin Why? Treasury assessed, that through illegal phoenix activities [...]

Alert: Property Developers – Preparing for new GST withholding regime2018-12-05T13:50:21+10:00