Taxpayers who are small business owners operating from home, or who use a vehicle for business purposes, need to be aware of some changes when claiming deductions this tax time. […] CONTINUE READING
Businesses that have employees, or hire eligible contractors, will need to ensure that their payroll and accounting systems are updated to reflect the new super guarantee rate of 11% for payments of salary and wages that are made from 1 July 2023. […] CONTINUE READING
With the end of the 2022/23 financial year fast approaching, it is again time to consider the rules concerning contributions made to your self managed funds or other superannuation funds for this year. Following are some guidelines regarding current rules and ATO requirements. […] CONTINUE READING
The ATO recently released draft guidelines setting out a methodology for calculating the cost of electricity when an electric vehicle (‘EV’) is charged at an employee’s or individual’s home. The draft guidelines may be relied on by employers and individuals who satisfy the required criteria for FBT and income tax purposes respectively, as set out […]
