Legislation in limbo

The February 2019 Parliamentary sitting days were the last opportunity before the Federal Budget for the Government to introduce or push through new legislation. Next month, on 2 April, Parliament reconvenes for the Federal Budget and it’s likely that an election will be called very soon after that (18 May 2019 is the last possible date for the election of the House of Representatives). Any legislation that has not passed when the election is called basically goes back to the drawing board and may never be enacted.

Financial Accounting, Superannuation, TaxationJPR BUSINESS GROUP7 March 2019taxation, FBT, superannuation, SMSF, CGT, Capital Gains Tax

Single touch payroll extended to all employers

From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts.

Financial Accounting, Corporate Secretarial, TaxationJPR BUSINESS GROUP7 March 2019payroll, single touch payroll, salary, PAYG, tax, australian tax office, ATO

You’ve been scammed, hacked or breached!

Another year, another scam. While data driven crime is more sophisticated and difficult to address than ever, human error and judgement remains one of the major problems.

Taxation, Financial Accounting, Community, Business DevelopmentJPR BUSINESS GROUP7 February 2019cyberlaw, cyber security, cyber, scam, cyber scam, medicare, ato

What changed on 1 January 2019?

A quick snapshot of what has changed from January 2019

Financial Accounting, TaxationJPR BUSINESS GROUP7 February 2019taxation, economy, australian tax office, ATO, credit card debt

Tax warning on overseas income

Do you earn income overseas? A recent case highlights why you might pay more tax than you thought on foreign income.

Taxation, InvestmentJPR BUSINESS GROUP7 February 2019taxation, income, investment property

What would happen if….

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.

Superannuation, Taxation, Financial Accounting, Corporate SecretarialJPR BUSINESS GROUP7 February 2019estate planning, wills and estates, succession planning, health, wellbeing

Tax on shares: ATO extends data matching program

The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.

Business Development, Corporate Secretarial, Financial Accounting, TaxationJPR BUSINESS GROUP4 December 2018tax, taxation, ATO, australian tax office

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. We explore the implications of the case.

Taxation, Business Development, Financial AccountingJPR BUSINESS GROUP4 December 2018workplace relations, fair work commission

Accelerated tax rate reduction 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 rate reduction for corporate tax entities that are base rate entities (BREs)

New Business, TaxationShelley Wood2 November 2018small business, business, retail business

You can no longer claim deductions for travelling to your investment property

New rules came in to effect from 1 July 2017, that prevent taxpayers claiming a deduction for expenses they incur travelling to and from their residential investment property.

Taxation, InvestmentJPR BUSINESS GROUP2 November 2018investment property, property, rental property, tax deductions, taxation