Claiming GST credits for employee expense reimbursements Employers may be entitled to claim GST input tax credits for payments they have made to reimburse employees for expenses that are directly related to their business activities. A ‘reimbursement’ is provided when a taxpayer pays their employee the amount, or part of the amount, of a particular [...]
Court penalises AMP $24 million for charging deceased customers The Federal Court has found that four companies that are or were part of the AMP Group breached the law when charging life insurance premiums and advice fees from the superannuation accounts of more than 2,000 deceased customers. The Federal Court ordered two of these AMP [...]
2023/24 Budget Update On 9 May 2023, Treasurer Jim Chalmers handed down the 2023/24 Federal Budget. Some of the measures announced by the Government (including some which were actually announced prior to the Budget), include: - from 1 July 2026, employers will be required to pay their employees’ superannuation at the same time as their [...]
Last chance to claim deductions under temporary full expensing Deductions under ‘temporary full expensing’ are only available in the 2021, 2022 and 2023 income years, and are expected to come to an end on 30 June 2023. Editor: Under temporary full expensing, businesses with an aggregated turnover of less than $5 billion can generally claim [...]
Super guarantee contributions for the December 2022 quarter A reminder to employers that their December 2022 superannuation guarantee (‘SG’) contributions were due by 28 January 2023. Do not forget the two changes to SG that commenced on 1 July 2022: the rate increased from 10% to 10.5% employees no longer need to earn $450 per [...]
On 25 October 2022, Treasurer Jim Chalmers handed down an updated 2022/23 Federal Budget, the first for the Albanese Labor Government. 1. Providing certainty for unlegislated taxation and superannuation measures The Government has announced it will not proceed with certain legacy tax and super measures that were announced but not legislated by the previous [...]
KPG Oct 2022 tax updates Banking business income to a private account The ATO has stated that it has "no concerns" with business owners banking their business takings or other sales in private accounts, but that this may become an issue when this income isn't reported. Therefore, the ATO notes that a good way to [...]
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More COVID-19 business grants are now tax-free The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses. A State or Territory Government COVID-19 grant payment will generally be tax-free if: the payment is received under a grant program that is formally declared to be [...]
什麽是临时税务居民？ https://mp.weixin.qq.com/s/e-Z8pVpyQ50vkcvbGrx9yg 移民入境时涉及的税务问题 https://mp.weixin.qq.com/s/IlTePMUrHnHkNizNMsbo8A 今年的重点查税 - 出租房产 https://mp.weixin.qq.com/s/IXkQRcWtCP6ye7swOSBJ8w 又逢每年报税季，你报税了吗？ https://mp.weixin.qq.com/s/LOIvWtRdP_-cWg1hQxyPSA
