Despite previous assurances, and after much speculation, the Government has announced tweaks to the ‘Stage 3’ tax cuts that will apply from 1 July 2024. The Medicare levy low-income thresholds for the 2024 income year will also be increased. […] CONTINUE READING
With the well earned December/January holiday season on the way, many employers will be planning to reward staff with a celebratory party or event. However, there are important issues to consider, including the possible FBT and income tax implications of providing ‘entertainment’ (including Christmas parties) to staff and clients. […] CONTINUE READING
The ATO will acquire officeholder data from ASIC, the Office of the Registrar of Indigenous Corporations and the Australian Charities and Not-for-profits Commission for the 2024 and 2025 income years, including details such as: * their name, address and date of birth; * email address and contact phone number; * organisation class, type and status, […]
Throughout the 2022 income year, one cybercrime was reported every seven minutes. The ATO encourages taxpayers to implement the following four quick steps to protect themselves. Step 1: Install updates for your devices and software Step 2: Implement multi-factor authentication Step 3: Regularly back up your files Step 4: Change your passwords to passphrases […] […]
