Blog

A great article from Business Insider about wealth accumulation, including some helpful tips on what you can do and how to get started. Link below: My parents grew up poor, but I retired early at 28 with $2 million. Here…

Read more

One of the major concerns for taxpayers in taking on the role of a legal personal representative is that the Tax Commissioner may treat legal personal representatives (LPRs) as having a personal liability for a tax debt where assets of…

Read more

Prime Minister Morrison is promising that government will fast-track its legislated tax cuts for small and medium-sized businesses. The tax rate for companies with a turnover of up to $50 million has already been reduced from 30 to 27.5 per…

Read more

Why do I need a log book? When claiming for work-related car expenses, many taxpayers miss out on maximising their claim due to inadequate record keeping. But also, failing to maintain a valid car log book can cost taxpayers dearly…

Read more

With the deadline of 31 October for self-preparers edging closer, the ATO is looking to drive lodgment compliance, with about 7 million completed returns lodged so far this tax time. Broken down, about 4.3 million taxpayers have lodged via a…

Read more

The Tax Office has earmarked home office expenses as a key focus area, citing a lack of education contributing to a high amount of mistakes, errors, and questionable claims. ATO Assistant Commissioner Kath Anderson said a record $7.9 billion in…

Read more

Dropping plans to increase the retirement age may not be good economics, but it could be good policy.(AAP) Work into your 70s and then sell your house — or suck out its value through a reverse mortgage — before you…

Read more

Are you issuing payslips? Keeping good records? The Fair Work Ombudsman has set its sights on NSW, after identifying hotspots of non-compliance in the outer Sydney regions. Queensland could be next. Specifically, the FWO will be inspecting the time and…

Read more

Tax myths busted! Tax season is underway and to help Australians get their returns right, the Australian Taxation Office (ATO) has identified the top 10 tax myths and misunderstandings it says are causing incorrect claims. Assistant Commissioner Kath Anderson says unreliable…

Read more

Check out this article from the CPA which points out the differences and talks about the penalties for getting it wrong https://www.intheblack.com/articles/2018/07/01/when-contractor-not-contractor

40/50