Personal services income (PSI) is income received as payment for individual personal efforts and skills. It applies too many contractors who provide services as their means of earning an income….
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Many people new to running a business and employing people are unsure about the difference between PAYGI and PAYGW. They are not the same thing! PAYG stands for ‘pay as…
The taxable payments annual report (TPAR) reports to the ATO information about payments made to contractors for certain services. TPAR for the building and construction industry has been in place…
It’s tax time again – what can you claim to reduce your tax? In this blog, we’ll explain: Deductions you can claim The importance of a fantastic tax accountant The…
There are some important changes to payroll this new financial year, including an increase in superannuation guarantee. We’ve included all of the changes and reminders you need to be aware…
As part of the Federal Budget 2020-21, the government announced a loss carry back measure to encourage new investment and work with the temporary asset expensing measures also announced at…
Turning a profit will be high on your list of goals as a business owner. And if you want to generate the best margins, that means keeping an eye on…
Changes to superannuation legislation in July 2020 have adjusted the rules around age limits and the work test, allowing older workers to continue making superannuation contributions. Super Contributions Superannuation guarantee…
Christmas is a great time to acknowledge and reward your employees and other associates by celebrating and giving gifts. But don’t get caught out by entertainment rules! Claiming entertainment and…
Have you considered the powerful tax and superannuation planning opportunities that the small business CGT concessions can offer your business? These concessions allow you to reduce – or in some…