by Garry Wolnarek | 22 Jan 2022 | General, Small Business
All directors or intended directors need a DIN All directors or proposed directors within 12 months of directorships of companiescorporate associations & body corporates registered under the Corporations Act.Corporate Trustees for TrustsSMSF Corporate Trustee Need...
by Garry Wolnarek | 14 Jan 2022 | General
Yes can claim the tax deduction for money spent on a RAT kit in the following cases: 1. You are required to take a test before undertaking work (e.g., as a mandatory requirement under an employer’s COVID mandate), or2. You are required to travel for work interstate...
by Garry Wolnarek | 10 Jan 2022 | General
Have you received gifts or loans from overseas relatives? Many people in Australia receive gifts or loans from relatives overseas. As a result, it is not uncommon for the ATO to scrutinise these transactions to ensure they are genuine and not undeclared taxable income...
by Garry Wolnarek | 17 Aug 2021 | General
SEQ 2021 COVID-19 Business Support Grant – Open at Midnight 16th August 2021 Targeted Support to who? Queensland Labour State Government is targeting only businesses with unrelated staff for grant support, why? business with related staff only, may be able...
by Garry Wolnarek | 25 Jun 2021 | General, Property Advice, Property Taxation
When it comes to investment property depreciation, people mostly focus on the building and what’s inside, but the outdoors can be depreciable too. It is important to know that not all landscaping is depreciable; there is a difference in how ‘hard’ and ‘soft’...
by Garry Wolnarek | 20 Apr 2021 | Property Advice, Property Taxation
GST Margin scheme guidance enhanced after user mistakes If you sell or develop the property, you may be eligible to use the margin scheme, reducing the amount of GST payable on some property transactions. However, the ATO says it has noticed errors in the two key...
by Garry Wolnarek | 1 Mar 2021 | Accounting / Bookkeeping, General, Small Business, Tax Planning
Small Business Clients Business in the following industries that make payments to contractors or subcontractors needs to lodge a Taxable Payment Annual Report (TPAR) by the 28th of August each year. Black or Cash Economy Detection The TPAR is a black economy measure...
by Garry Wolnarek | 27 Oct 2020 | Insights, Property Advice, Property Taxation
Property Landscaping Tax Deductions? A common question asked by clients! Landscaping work How do I treat for tax the cost of landscaping to improve the value of a property? Landscaping is an improvement to the property and therefore not deductible under section 8-1....
by Garry Wolnarek | 7 Oct 2020 | General, Tax Planning
Individuals Personal income tax cuts Date of effect1 July 2020 Tax thresholdsTax rateCurrentFrom 1 July 2020From 1 July 20240%$0 – $18,200$0 – $18,200$0 – $18,20019%$18,201 – $37,000$18,201 – $45,000$18,201 –...
by Garry Wolnarek | 29 Sep 2020 | Covid-19
JK1 Finished on the 27th September (JK) 1 finished on the 27th September so all payments for JK 1, Fortnight 13 need to be paid by 27th September and then make the Monthly Declaration by 14th October to receive the September JK1 Subsidy of $1,500 per fortnight...
