MAYBERRY_Admin, Author at Mayberry Meldrum Anderson

Bookkeepers – do I need one?

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...

Temporary Full Expensing of Depreciating Assets

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...

Christmas parties and gifts and FBT 2022

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...

CHANGES TO CLAIMING WORKING FROM HOME EXPENSES – effective from 1 July 2022

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)....

2022/23 BUDGET SNAPSHOT

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...