Warning!Check Deductions

Excerpt from Accountants Daily: Apart from work-related expenses, the Tax Office will also take a tougher stance around over-claiming of rental deductions and the non-declaration of rental income. “Another big thing we would say, and it is important particularly this year, because we are getting more and more information in our data collection, and that […]

ABN Entitlement

Taxable payments annual report (TPAR) – Cleaners and Couriers

From the ATO: Cleaners and Couriers will need to lodge a Taxable payments annual report (TPAR) each year on contractors in their business. For this tax year (2019) the return will be due on the 29th of August 2019. If this affects you please ensure you keep the following information as a minimum requirement, the […]

New HELP Repayment schedules

From 1st of July 2019 a new payment minimum of 1% at income of $45,881 and a maximum threshold of 10% at $134,573 For comparison here are this years HELP rates: 2018–19 repayment income thresholds and rates for HELP, SSL, ABSTUDY SSL and TSL Repayment income (RI*) Repayment rate Below $51,957 Nil $51,957 – $57,729 […]