by epoch | May 2, 2018 | eNews
Every year, the Australian Taxation Office (ATO) compiles the tax data they collect. The recently released 2015-16 ‘tax stats’ encapsulate the data from 16 million income tax returns lodged for the 2016 income year for 13.5 million individuals, 940,000 companies, as...
by epoch | Apr 2, 2018 | eNews
From 1 July 2018, new laws come into effect allowing first home buyers to use their super to help buy a home. At the other end of the spectrum downsizers will be able to contribute proceeds from the sale of their home to super without many of the normal restrictions....
by epoch | Apr 2, 2018 | eNews
Single Touch Payroll (STP) – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – comes into effect from 1 July 2018. For employers Employers with 20 or more employees at 1 April 2018 must use standard...
by epoch | Apr 2, 2018 | eNews
A recent Parliamentary Inquiry into Tax Deductions created some fairly sensational headlines about what and how deductions are being claimed – $22 billion worth to be exact. In Australia, tax deductions are available for expenses incurred in producing...
by epoch | Mar 14, 2018 | eNews
PayID was launched in February this year as part of what’s known as the New Payments Platform. The service is being offered by most banks and allows for virtually instantaneous payments using mobile numbers or emails rather than traditional account details. Earlier...
by epoch | Mar 6, 2018 | eNews
Ever wondered how the ATO identifies audit targets? The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls...
