Taxation

Thumbnail image for September Issue of TaxWise Business News Available
By September 19, 2011

TaxWise Business News is published each quarter. The September, 2011 issue of TaxWise Business is now available from the main site. This quarter’s issue includes the following articles: ATO Compliance Target Areas 2011-12 Taxing Carbon Managing Tax Debts Proposed Not-for-profit Reforms Car Fringe Benefits Rules Changed Excess Super Contributions Tax CGT ...

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Thumbnail image for September Tax Update Newsletter Available
By September 2, 2011

The September edition of our Tax Update newsletter is now available for download from the main site. This issue includes information on: ATO Clamps Down on GST Fraud and Cash IncomeMeaning of ‘Cost Price’ of a Car for FBT Purposes ATO Data Matching: Flood and cyclone reconstruction levy Is an ...

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Thumbnail image for Data Matching – disaster recovery payments
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The ATO will collect names and addresses of approximately 735,000 individuals who received the Australian Government Disaster Recovery Payment, and New Zealand citizens holding a special category visa who received an ex-gratia payment from Centrelink. This latest data matching effort, called the Temporary Flood & Cyclone Reconstruction Levy Data Matching ...

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Thumbnail image for August Tax Update Newsletter Available
By August 8, 2011

The August edition of our Tax Update newsletter is now available for download from the main site. This issue includes information on: ATO Focus on SMSFs Warning: Investing in Overseas Property New This Year to Family Tax Superannuation: Common Mistakes Made by Employers Car Depreciation Limit for 2011/12 Reasonable Overtime Meal ...

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Thumbnail image for NSW Payroll Tax Updates & Rebates
By July 7, 2011

New tax thresholds were introduced at the start of the financial year for payroll tax in NSW. The annual payroll tax threshold is now $678,000 and the rate is currently 5.45%. From 1 July 2011, the monthly threshold is: 29 days = $53,721 30 days = $55,574 31 days = $57,426 ...

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Thumbnail image for July Tax Update Newsletter Available
By July 6, 2011

The July edition of our Tax Update newsletter is now available for download from the main site. This issue includes information on: Occupations in the spotlight for the 2011 income year Tax laws amended to allow income ‘streaming’ by trusts Flood levy exemption declaration Deductions for study and job seeking ...

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Thumbnail image for Forget the Ads… You’ll Still be Taxed
By July 2, 2011

The recent spate of “get private health cover before 30 June or get taxed” campaigns really irritate me. I have nothing against Private health Cover and if you’re likley to be up for the Medicare Levy Surcharge (MLS), you should look into it. What bugs me is that unless you ...

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