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5 days ago

Taxcare

Tim has to wear specific clothing for his job as a chef which means he can claim a deduction on his tax return ✅

You may be able to claim clothing and laundry expenses if your work clothing:
• is a compulsory uniform
• has your employer’s logo on it
• is protective, like a hi-vis vest for a construction worker, or
• is occupation-specific, like a chef’s checked pants.

Find out more: ato.gov.au/clothingandlaundry
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3 weeks ago

Taxcare

We welcome the Government working towards a level playing field for small business. Initiatives targeting tax avoidance and illegal phoenixing will empower small businesses who are doing the right thing to compete.
Small businesses employ 4.7 million Australians. The Government’s focus on apprenticeships, traineeships and the mature aged workforce will provide a wider pool of resources, and the continuation of the instant asset write-off is welcome.
Download our Budget Scorecard here - ow.ly/tXJH30jT6Oi
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3 weeks ago

Taxcare

NSW Business Chamber
[WORKPLACE SEMINAR] More employers are being penalised for failing to meet their HR obligations – with casual work arrangements especially complex. Avoid the risk of hefty business fines (which can extend to $63,000 per breach) and nurture a high-performance culture through compliance and communication. Are your casuals really casual? Register now for the Workplace Update Seminar series at over 20 locations across NSW. Don't miss out - places are limited.
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3 weeks ago

Taxcare

We recently investigated a taxpayer who claimed $3,800 for transporting bulky tools to and from work. He said there was no secure area to store them at his workplace… but when we talked to his employer, they told us that he had a company car and didn’t actually need to transport the equipment 🤔

Since the taxpayer didn’t incur any expenses and knowingly misrepresented his circumstances, we knocked back the claim and applied a penalty.

Read about more dodgy claims and get the low-down on car expenses at ato.gov.au/Media-centre/Media-releases/ATO-driven-to-scrutinise-car-claims-this-tax-time
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1 month ago

Taxcare

Employers: If you have 20 or more employees, Single Touch Payroll (STP) will soon streamline your payroll reporting obligations.

Take the next steps to get ready.
☑️ Contact your provider
☑️ Connect with us
☑️ Review your business processes
☑️ Apply for more time, if you need it

Use our checklist now at ato.gov.au/Business/Single-Touch-Payroll/Get-ready-for-Single-Touch-Payroll/
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1 month ago

Taxcare

Did you know there’s over $17 billion in lost and unclaimed super across Australia? 😲

Check if any is yours – log into our online services through myGov and review your super accounts.

Find out more at ato.gov.au/checkyoursuper
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2 months ago

Taxcare

Companies in Hong Kong will benefit from a new two-tiered profits tax rates regime from April 1. Under the new regime, tax for corporations on the first HK$2 million (about AUD$333,300) of profits will be lowered to 8.25 per cent. Profits above that amount will continue to be taxed at the current rate of 16.5 per cent. For unincorporated businesses, the corresponding profits tax rate will be set at 7.5 per cent on the first HK$2 million, and 15 per cent above that. A tax-paying corporation or unincorporated business may save up to HK$165,000 (about AUD$27,500) and HK$150,000 (about AUD$25,000) each year respectively.
Read more: www.info.gov.hk/gia/general/201803/29/P2018032800367.htm?fontSize=1
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2 months ago

Taxcare

🚨 SCAM ALERT 🚨 Be on the lookout for this new ‘tax refund review’ scam email. It asks you to review a previous refund by clicking a malicious link.

• Don’t click the link! It’ll take you to a fake online form designed to steal your personal info.
• Forward the email to us at ReportEmailFraud@ato.gov.au
• Delete the email and don’t respond to the sender.

Warn your friends and family to beware of this scam, and head to our scam alerts page for more details: ato.gov.au/scamalerts
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2 months ago

Taxcare

business.gov.au
Does your business do R&D? Did you know the R&D Tax Incentive provides a generous tax offset for eligible R&D? Check out George’s story about research, the way we generate new knowledge.

Learn more about R&D Tax Incentive: bit.ly/2HvrMPd
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3 months ago

Taxcare

Are you 65 or over and thinking of selling the family home? 🏡 If you’re eligible you can put up to $300,000 from the sale of your home into your super without affecting your contributions cap.

This change is part of the 2017-18 Federal Budget’s housing affordability scheme.

Check to see if you’re eligible at ato.gov.au/downsizing
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