While Uber services are being more and more popular in our life, the tax issues related to Uber services have also raised people attention. There are doubts about the GST treatment for service providers and the FBT treatment for employers. This article will discuss related tax policies, issues and what are the treatment for each […]
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Announced in the 2019-20 Federal Budget, the Government’s changes to the Personal Income Tax Plan has now law. 2018-19 Starting from the financial year 2018-19, there will be an increase of the maximum amount and the base amount of the low and middle income tax offset (LMITO), from $530 to $1,080 p.a. and $200 to […]
Senate crossbenchers Jacqui Lambie and the Centre Alliance confirmed their support on Thursday morning, clearing the path for the new laws, which independent Cory Bernardi has long supported. This year: Modest cuts for most Australians Modest tax cuts are available to millions of Australians almost immediately. People earning between about $21,000 and up to $126,000 in […]
On 6 April 2019, the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 (the Act) received Royal Assent as Act No. 51 of 2019. The Bill was originally introduced proposed to give effect to the Government’s announcement of 29 January 2019 that: the instant asset write-off for small business […]
Resident Individual Non-resident Individual Low-income Thresholds – Individual Low-income Thresholds – Families Medicare Levy Surcharge Dependent (Invalid and Carer) Tax Offsets Note, the ATO generally refers to this offset as the Invalid and Invalid Carer Tax Offset to avoid the impression that it may be claimed in respect of any dependant of a taxpayer. Notionally Retained Dependent […]
The ATO has reminded employers that legislation has been passed to extend Single Touch Payroll (STP) to include all employers from 1 July 2019. This will be a gradual start, and not all employers will start reporting at the same time. Employers with 5 to 19 employees (small employers) Small employers can determine when they […]