News

Simpler BAS from 1 July 2017

Goods and services tax (GST) reporting on the business activity statement (BAS) is getting easier for small business. With Simpler BAS, from 1 July 2017 small businesses will have less GST information to report on their BAS. The only GST information required will be: G1 Total sales 1A […]

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Medicare Levy to Increase to 2.5% (previously 2%) from 1 July 2019

From 1 July 2019 the Medicare Levy will increase to 2.5% (previously 2%). The increase is to ensure the National Disability Insurance Scheme (NDIS) will be fully funded. The Medicare levy low-income thresholds for singles, families, seniors and pensioners will increase from the 2016/2017 financial year. For […]

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NO DEDUCTION FOR RESIDENTIAL RENTAL PROPERTY TRAVEL EXPENSES FROM 1 JULY, 2017

From 1 July, 2017 onwards the ATO will no longer allow a deduction for travel expenses related to inspecting, maintaining or collecting rent for a residential property. The Government have implemented this change as an integrity measure to address concerns that a large number of taxpayers have […]

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Super Changes make 2017 a retirement watershed

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Important Notice for AccountRight Clients

If you’re still using AccountRight 2016.2 you’ll need to update to the latest AccountRight version BEFORE 10 MARCH 2017 to keep working online. Updating is FREE and the latest version has all the benefits of online accounting, plus a new innovation to give you greater insight into […]

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Welcome 2017

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Christmas Closure

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The Sharing Economy

The ATO is cracking down on undeclared taxable income earned in the “sharing economy”. Sharing economy services that you may earning income through, such as Uber, Lyft, Airbnb, or just through your own methods, is likely not to be tax-free hobby income but rather income that would […]

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Is A Contractor Really An Employee?

Is A Contractor Really An Employee?

Is A Contractor Really An Employee? There are so many myths about when is a contractor really an employee? Not understanding the differences could leave you in a lot of trouble with the ATO. Here’s a short video explaining more.   There are a number of key determinants […]

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Working extra hours at home?

Clients are encouraged to track how many hours they are spending in a dedicated office at home as you may be able to claim some expenses at in one’s own income tax return. There are two methods for claiming home expenses: using a diary for actual costs […]

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