Epoch News
Why estate planning is more important than ever
Life does not always go to plan. While we logically know that, most of us don’t plan for the worst - it’s all a bit morbid and time consuming. The downside of not planning is the potential for hard earned assets to be squandered, family fall-outs, and...
Road freight among growing number of industries being targeted under Taxable Payments Reporting System
The Taxable Payments Reporting system was introduced to stem the flow of cash payments to contractors and rampant under-reporting of income. Since the building and construction industry was first targeted in 2012, the reporting system has expanded to...
No tax deductions if you don’t meet your tax obligations
New laws passed by parliament last month directly target the behaviour of taxpayers that don’t meet their obligations. Tax deductions denied If taxpayers do not meet their PAYG withholding tax obligations, from 1 July 2019 they will not be able to claim a...
Contractor or employee? Defining workers in the gig economy
A former Foodora Australia delivery rider, Joshua Klooger, recently won an unfair dismissal claim despite a service agreement that classified him as an independent contractor. I explore the implications of the case. Pivotal to the Fair Work Commission’s...
Deductions restricted on investment property travel
From 1 July 2017, new rules came into effect that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property. The Government restricted travel deductions to curb “widespread abuse around...
The new rules for gift cards – what you need to know
In Australia, around 34 million gift cards are sold each year with an estimated value of $2.5 billion. On average, an estimated $70 million is lost because of expiry dates. Until recently, there was no national regulation for the minimum length of time a...
Accelerated tax rate deduction for small business
Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses. Parliament recently passed legislation to accelerate the corporate tax...
Working from home: What deductions can you claim?
For a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their ‘hit list’ are home office expenses. I guide you through what you can and...
What does the China/US trade war mean to Australia?
As the bilateral trade war between the US and China heats up, I look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China. At the annual United Nations General Assembly...
What does the China/US trade war mean to Australia?
As the bilateral trade war between the US and China heats up, I look at what this might mean to Australia caught between its cultural and military ties to the US and its strong economic relationship with China. At the annual United Nations General Assembly...