by Swot Accoountants | Jun 24, 2020 | Tax & Compliance
You may be able to claim tax deductions for work-related expenses incurred during performing your work as an employee. These expenses may include: Car expenses Home office expenses (including internet & electricity) Mobile phone & computer expenses Uniform...
by Swot Accoountants | Jun 13, 2020 | Business News, Tax & Compliance
On the 9 June 2020, the government announced an extension of the instant asset write-off threshold of $150,000 to 31 December 2020. The extension will cost the government about $300 million and will be available to about 3.5 million eligible businesses. The extension...
by Swot Accoountants | Jun 11, 2020 | Coronavirus (COVID-19), Tax & Compliance
Businesses and employers JobKeeper payments received by the business are assessable (taxable) income Stimulus “Cash Boost” payments received between $20K and $100K are not assessable income (tax-free) Individuals and employees JobSeeker payments received from...
by Swot Accoountants | May 28, 2020 | Business News, Tax & Compliance
From 12 March 2020, the instant asset write-off threshold was increased to $150,000 for eligible businesses. From 1 July 2020 however, the threshold will be significantly reduced to its legislated $1,000 for each asset. There are some exclusions and limits. If you’re...
by Swot Accoountants | Mar 9, 2020 | Capital Gains Tax (CGT), Tax & Compliance
Did you know that the Australian Taxation Office (ATO) receives information from cryptocurrency-designated service providers about Australian taxpayers who engage in buying, selling, exchanging or transferring cryptocurrency since the 2014/2015 financial year? The ATO...
by Swot Accoountants | Mar 6, 2020 | Business News, Tax & Compliance
Ridesharing services have taken Australia by storm, but not every contractor-driver has done their good tax planning. Don’t worry though, you can get organised and make sure you’re on top of your tax obligations. Did you know there are many tax benefits of being a...
