News

We would like to take this opportunity to wish all our wonderful clients a very Merry Christmas. Thank you for your continued support throughout 2024, we can’t wait to start 2025 with you. Our office will will closing for the Christmas break on Thursday 19 December 2024. Most of our staff will be reopening the office in the New Year

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With many businesses looking at Christmas parties, celebrations and gifts, now is a good time to look at what is tax deductible and what isn’t. Are the costs of client gifts deductible? What about gifts for your staff? Those client lunches or drinks, they’re a deductible expense right? Let’s see if we can answer some of these questions for you.

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There are very limited circumstances where taxpayers can legally access their super early, and the ATO is reminding taxpayers that “paying bills and buying Christmas presents doesn’t make the list.” Generally, taxayers can only access their super when they: reach preservation age and ‘retire’; or turn 65 (even if they are still working). To access their super legally before then,

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Employers are reminded that employee superannuation contributions for the quarter ending 31 December 2024 must be received by the relevant super funds by 28 January 2025.  If the correct amount of Superannuaion Guarantee (SG) is not paid by an employer on time, they will be liable to pay the SG charge, which includes a penalty and interest component. The SG

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With the ATO making the switch from myGovID to myID, they have had an increased number of scam reports. Primarily, recipients are being asked to verify their details by clicking on a link. myID will work in exactly the same way as myGovID and the transition should be smooth and seamless. There is nothing that you need to do for

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The Fair Work Commission has determined that a Philippines based “independent contractor” was an employee unfairly dismissed by her Australian employer. Like us, you are probably curious how a foreign national living in the Philippines, who had an ‘independent contractors’ agreement with an Australian company, could be classified as an Australian employee by the Fair Work Commission? The recent case

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The Government has amended the legislation guiding registered tax practitioners to include compulsory reporting of material uncorrected errors to the Tax Commissioner. The Government has legislated a series of changes to the Tax Agents Services Act 2009 that place additional requirements on registered tax practitioners and how they interact with clients. The reforms are in response to the recommendations of

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In a recent decision, a taxpayer’s claims for various work-related expenses were rejected by the Administrative Appeals Tribunal (AAT). The taxpayer was employed as a traffic controller in the 2020 income year.  In his income tax return for that year he claimed $9,800 in work-related deductions, including for car expenses (using the cents per km method), travel expenses, clothing expenses

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From 1 April 2025, a plug-in hybrid electric vehicle (‘PHEV’) will not be considered a zero or low emissions vehicle under fringe benefits tax (‘FBT’) law and will not be eligible for the electric car FBT exemption.  However, an employer can continue to apply the electric car exemption if: use of the PHEV was exempt from FBT before 1 April

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You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100k issued. But it wasn’t you. And you certainly didn’t get a $100k refund in your bank account. What happens now? In what is rapidly becoming the most common tax scam, myGov accounts are being accessed

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