by Mark Cusack | May 10, 2022 | eNews
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations. These letters are a warning shot and...
by Mark Cusack | Mar 30, 2022 | eNews
$120 deduction for every $100 spent on technology From7:30pm AEDT, 29 March 2022 until 30 June 2023 The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on business expenses and depreciating assets that support their...
by Mark Cusack | Mar 30, 2022 | eNews
Reduction in minimum superannuation drawdown rates extended again The temporary 50% reduction in superannuation minimum drawdown requirements for account-based pensions and similar products has been extended to 30 June 2023. Minimum superannuation drawdown rates...
by Mark Cusack | Mar 30, 2022 | eNews
Temporary reduction in fuel excise From12.01am 30 March 2022 A few jokes are going around social media about the price of fuel. The Government will temporarily reduce the excise and excise-equivalent customs duty rate that applies to petrol and diesel by 50% for six...
by Mark Cusack | Mar 30, 2022 | eNews
As expected, the 2022-23 Federal Budget is safe and ballot box friendly, focusing on jobs, cost of living, home ownership, and health. Key initiatives include: A 6 month, 50% reduction in fuel excise with effect from midnight Budget night A $420 cost of living...
by Mark Cusack | Mar 6, 2022 | eNews
Late last month, the Australian Taxation Office (ATO) released a package of new guidance material that directly targets how trusts distribute income. Many family groups will pay higher taxes (now and potentially retrospectively) as a result of the ATO’s more...
