Individuals, trusts, partnerships, and corporations may make errors when filing their income tax returns for various reasons. Therefore, all taxpayers are allowed to correct their returns within the designated timeframes. When do you need to amend your tax return? You might need to amend your tax return if you: The amendment process allows you to …
What is the Time Limit for Tax Return Amendments to the ATO?Read More »
The Super Guarantee Employer Obligations Course – Your roadmap to navigating Super Guarantee (SG) responsibilities as an employer.This tailored course offers insights into crucial SG aspects: a. Prioritizing Punctual Payments:Grasp the vital role of on-time super contributions in employees’ retirement savings. b. Timely Transactions: Learn the frequency and timing essentials for seamless super payments. c. …
Tax Guide 2023 – Unraveling the fresh initiatives for filing your returns !2023 marks a significant year for taxation and deductions in Australia as, several changes and updates have been implemented. Let’s delve into the key highlights. A. Updated method for working from home expenses :The method for calculating deductions for working from home expenses …
Tax Guide 2023 – Unraveling the fresh initiatives for filing your returns!Read More »
Tax Laws are changing radiantly which is making it really hard for small businesses to keep track of everything they must know. Complying with the rules is becoming hard. Thus this blog will cover glimpse of changes and some tips to get ahead of the pack. SINGLE TOUCH PAYROLL – PHASE 2 The ATO expanded …
STP stands for SINGLE TOUCH PAYROLL BACKGROUND It was introduced a few years ago and the major purpose of introducing this was having all employers report wages to the ATO in real time. Employers need to submit wage data to the ATO on daily basis. PURPOSE OF STP Out of all purposes, few are more …
As the coronavirus outbreak continues to devastate several industries and economies around the globe, many Australia-based SMEs are now facing significant challenges. With the aim to tackle the drastic impact and financial challenges for small businesses, the Federal Government has introduced new changes in the Income Tax Assessment Act of 1997. In that event, the …
Filing income tax returns (ITR) is an annual activity that is viewed as the moral and social duty of every responsible resident of the country. ITR is the basis for the government to determine the amount and means of expenditure of individuals as well as business enterprises. It acts as a platform for the assessee/individual …
Filing Income Tax Returns: Six Benefits To Do So!Read More »
The COVID-19 pandemic has posed severe challenges for the Victorian businesses. Where on the one hand people are fighting this deadly virus, entrepreneurs are also on the lookout for ways to improve the stability, solvency, and profitability of their businesses. The government too is working towards it. So with the aim to offset the effects …
As the COVID-19 outbreak continues to devastate several industries and the Australian economy, both small and medium-size enterprises are confronting significant challenges. In order to survive and stabilize their businesses in the market, many owners are dropping expensive projects and laying off employees. So considering the drastic impact and financial implications of the Coronavirus pandemic, …
JobKeeper Payment Program: Who Will Benefit And Who Will Miss ItRead More »
Truly said, “Paying tax is not a punishment; it’s a responsibility of every citizen”. Tax is an expenditure that every enterprise, whether small or large, has to incur. However, big business owners hire professional tax agents which help them to tackle any issues related to tax laws and pay reasonable taxes. But when it comes …
5 Reasons Why Registered Tax Agents Are Beneficial For Small EnterprisesRead More »