A reminder that the Business Portal retires at the end of this month. If you use the Business Portal you must switch now to Online services for business to continue to interact with the ATO online. The ATO online services…
The beginning of a new financial year is a good time to talk to your financial planner about some of the tax effective strategies that suit your situation and assist with your financial future, retirement and savings goals. The…
The Tax Office has begun bracing for a substantially different tax time this year, noting that it will likely see a flow-on effect from COVID-19 restrictions on work-related expenses claims. ATO assistant commissioner Karen Foat has now urged taxpayers to…
Small businesses located within the 36 Melbourne suburbs that will soon re-enter Stage 3 coronavirus restrictions will be eligible for one-off grants of $5000 from the state government, with applications due to open in coming days. On Tuesday, Victorian Premier…
1. In order to claim a deduction for a personal contribution, a member must give their notice (or variation) by the following dates, whichever occurs first: a. the day they lodge their income tax return for the income year in…
Monthly declaration Jobkeeper You will have to provide a monthly declaration to the ATO – this can be done from the 1st to the 14th day of each month, to receive reimbursements for the payments you have made to your…
Did you know that while almost half of all retirees agree that hiring a financial advisor could make a huge difference when it comes to planning their retirement, only 24% actually have one? Compared to the 47% in the US…
The outbreak of the coronavirus (Covid-19) has many far reaching consequences for people’s health and the economy. The response from both federal and state governments to contain the outbreak has placed restrictions on many businesses and thus they have been…
With all the financial upheaval relating to the coronavirus right now, it’s not hard to see why the share market has gone into meltdown. As those in charge are considering a recession, there’s really no better time to learn how…
The summary of Business Announcements is as follows: FEDERAL GOVERNMENT INITIATIVES: Small & Medium Sized businesses with turnover less than $50m will receive a tax free credit to their ATO account of between $20k and $100k split equally over the…