by Swot Accoountants | Dec 17, 2019 | Business News, Tax & Compliance
You may have to lodge a Taxable Payments Annual Report (TPAR) with the ATO by the 28 August each year, if you are a business providing certain services and you made payments to subcontractors, consultants or independent contractors. The contractors can be trading as...
by Swot Accoountants | Nov 13, 2019 | Business News, Fringe Benefit Tax (FBT), Tax & Compliance
In some circumstances if a business provides and pays for Christmas parties for their employees and their associates, it may attract FBT. There are some costs associated with Christmas parties for food and drinks that may be exempt from FBT. For example: Christmas...
by Swot Accoountants | Jun 30, 2019 | Business News, Payroll
If your employer is now using Single Touch Payroll (STP) to report your income to the ATO, you will no longer receive your PAYG Payment Summary at the end of the financial year. If you have a myGov account, make sure it is linked with the ATO and you will receive a...
by Swot Accoountants | Jun 15, 2019 | Business News, Tax & Compliance
An instant asset write-off allows small business owners to claim full deduction on a purchased asset up to the value of $30,000 in the year it is purchased and first used or installed ready to be used. This rule applies to new and second-hand assets. The thresholds...
