by Swot Accoountants | Aug 1, 2022 | Tax & Compliance
Taxpayers can claim work-related deductions for some expenses they incur in their individual tax returns. Most of these expenses must be directly related to earning an income as employees or contractors. They may also be able to claim other expenses that don’t...
by Swot Accoountants | Jun 1, 2022 | Business News, Payroll, Super
Removal of the $450 monthly income threshold Previously, employees needed to earn a minimum of $450 in gross income from one employer per month to be eligible for the Super Guarantee (SG). From 1 July 2022, however, this cap has been removed by the federal government,...
by Swot Accoountants | May 1, 2022 | Business News, Business Training, Fringe Benefit Tax (FBT), Tax & Compliance, Tax Offset
On 29 March 2022, the Treasurer handed down the 2022/23 Budget with changes to tax and superannuation laws. Here is a summary of some of the measures that may impact businesses and individuals. Small Business Technology Investment Boost and Small Business Skills and...
by Swot Accoountants | Apr 1, 2022 | Business News, Super, Tax & Compliance
Determining the nature of the engagement – is the worker an employee or contractor? This is important from the tax and super point of view because employees will have tax withheld from their wages and super paid by the employer. In contrast, contractors may be treated...
by Swot Accoountants | Mar 1, 2022 | Business News, Companies & Trusts, Tax & Compliance
The ATO has released public advice and guidance (PAG) products relating to the tax treatment of trust entitlements arising out of reimbursement agreements and unpaid present entitlements (UPEs) of trust beneficiaries. The following draft products have been released...
