Are you signed up to the new small business super clearing house? The small business superannuation clearing house (SBSCH) is a convenient service that allows a small business to make superannuation contributions for its employees in one single payment….
ATO spotlight on visa holders, sponsors and migration agents The ATO has launched the latest round of their data-matching program to include all visa holders, visa sponsors and migration agents. It will request the records of approximately 20 million individuals…
A share trader who holds share as trading stock at the end of an income year must elect to value each share (as an item of trading stock), at cost, market selling value or replacement value. From a planning perspective,…
There are several personal tax offsets available to individual taxpayers. Tax offsets are subtracted from the tax calculated on taxable income. In contrast, a deduction is subtracted from assessable income in calculating the taxable income on which tax is payable. Example…
The ATO has confirmed that the costs of travelling to have a tax return prepared by a “recognised tax adviser” like Mark Your Tax Accountant are deductible. In particular you can claim a deduction for the cost of managing your…
Grants and business support The Queensland, Australian and local governments offer funding programs, often in the form of grants, and business support services to help new and established businesses grow and succeed. Government grants can help you develop your business…