The ATO has released further guidance and examples on when Division 7A loan repayments are not taken into account when working out:
The minimum yearly repaymentHow much of the loan has...Read MoreRead More
The ATO has issued Taxation Ruling TR 2022/3, Compendium on Personal Services Income (PSI) and related web guidance and how they apply to an individual or entity. The PSI rules are des...Read MoreRead More
Revenue NSW has issued Commissioner’s Practice Note CPN 025. It outlines the circumstances when certain transactions will or will not be dutiable and also aims to assist taxpayers and th...Read MoreRead More
he Business and Community Sport Flood Recovery Grants was launched yesterday.
It provides up to $50,000 grants to small businesses, not-for-profit and community sport and active re...Read MoreRead More
Gavin Ma is the founder of Gavin Ma & Co Accountants and also passionate about marathon running.
He has finished his 100th marathon at Marysville Marathon Festival on 6 November 202...Read MoreRead More
ATO reminds employers who hire staff on a short-term or occasional basis, that they need to be aware of recent changes to super guarantee (SG). The changes mean more of their employees ma...Read MoreRead More
From 1 July 2022, the methods for claiming working from home expenses have changed. The 80 cents per hour COVID-19 shortcut method is not available for 2022-23 (i.e., from 1 July 2022).
...Read MoreRead More
The following Victorian and ACT business grants are non-assessable non-exempt income. Therefore they are not taxable income for tax purposes:
Victoria
Victoria Business Costs Assistan...Read MoreRead More
There are not so many changes for taxation and superannuation in this budget.
We have summarised the major measure relating to individual, business and SMSF taxpayers:
• Personal i...Read MoreRead More
Tax Determination: cost base exclusions for deductible amounts
TD 2022/14 confirms the ATO’s view that the law does not permit ‘double counting’ of certain amounts by way of inclu...Read MoreRead More
