by MAYBERRY_Admin | Feb 22, 2023 | Business, Business Tax, Tax Tips
In Australia you don’t actually have to have a formal qualification to call yourself a bookkeeper however you do have to have a qualification and be registered with the Tax Practitioner Board to work as BAS agent. Since 2010 a change in legislation meant that if a...
by MAYBERRY_Admin | Dec 16, 2022 | Business, Business Tax, Uncategorized
Eligible businesses can claim an immediate deduction for the business portion of the cost of an asset in the year it is first used or installed ready for use for a taxable purpose. You may be eligible for temporary full expensing if you are one of the...
by MAYBERRY_Admin | Nov 22, 2022 | Business, Business Tax, Tax Tips
It is that time of year again that employers are organising the annual Christmas party for their employees and thinking about that perfect gift! There is no such thing as a Christmas Party Fringe Benefits Tax (FBT) category and depending on circumstances of the party...
by MAYBERRY_Admin | Nov 21, 2022 | Business, Business Tax, Tax Tips
A revision to claiming working from home related expenses is currently being drafted by the ATO to come into effect from the 2022-23 income year onwards. From 1 July 2022 the shortcut method is no longer available (brought in as a COVID-19 working from home measure)....
by MAYBERRY_Admin | Nov 21, 2022 | Budget, Consultants
Low and Middle Income Tax Offset (LMITO) – has not been extended. The maximum tax offset of $1,500 is only applicable for the 2022 financial year and has not been extended for the 2023 financial year. SMSF Audits every 3 years Abandoned – the 2019 Budget proposed that...