In this Issue: Christmas Holiday Business Closure Crowdfunding donations to help drought-affected farmers SG Amnesty still pending Memorable Quotes… FREE Tax Blaster Session Heard this one before? Going Away for the Holidays? Profit Improver Strategy | Ask for a Rent … Read More
Single Touch Payroll (‘STP’) commenced on 1 July 2018 for approximately 73,000 employers who have 20 or more employees. There is currently legislation before Parliament to expand STP to all employers from 1 July 2019 and it is estimated that … Read More
Employees who relocate for work purposes are not entitled to a tax deduction for the relocation costs and airfares they incur (as those expenses are deemed private). In contrast, an employer is entitled to a tax deduction for paying or … Read More
Legislation has been passed by Parliament to implement the Private Health Insurance (‘PHI’) reforms announced by the Government in October 2017. The measures are designed to simplify PHI and make it more affordable for consumers by improving the value of … Read More
Interest will be deductable for a rental property under the following circumstances: The rental property is either actually rented or genuinely available to rent, i.e. listed with a real estate agent for rent. The rental property is being built (This … Read More