With the ATO’s recent warnings that they will be reviewing work-related deductions this financial year it is important you have sufficient records of your work-related deductions. For a simplified way of tracking your work-related deductions throughout the year, then look no further than the ATO’s myDeductions App. This handy app is available on your phone.
We understand life can be busy, however it is important to stop and check that you are being paid your legally-entitled superannuation. Employers, regardless of how big or small the business is, are required by Federal Government law to pay at least 9.5% of all eligible workers’ ordinary time earnings to their superannuation accounts if […]
The government has been listening to the challenges that face small business with the reporting requirements on small business. They define small business being a business with a GST turnover less than $10 million. From 1st July, there is now simpler reporting requirements for your BAS. The big change is the data that you need […]
If you own shares or are looking at owning shares we know that there is lots of paperwork involved. If the shares pay dividends you will get twice yearly dividend slips and when you go to sell them you need to work out the capital gains. All of these things can lead to a mountain […]
Many people miss out on maximising work-related car expense claims due to inadequate record keeping. Failing to maintain a valid vehicle log book can cost you dearly if you are audited by the Australian Tax Office (ATO). For the 2015/2016 financial year, the ATO introduced a change to the maximum amount you can claim using […]