Helpful Articles and News from Garnet

Changes coming for crypto and digital assets

Changes coming for crypto and digital assets

It is estimated that more than 800,000 Australians participated in the crypto & digital assets market in the last three years. With the release of terms of reference for various reviews into the regulation and taxation of crypto & digital assets, it’s time to...

Check your PAYG instalments

Check your PAYG instalments

Now is a good time to check that your business’ PAYG instalments still reflect its expected end of year tax liability. The PAYG instalment system allows a business to spread its income tax liability across the tax year. This helps with cash flow but also means the...

Downsizer contributions: Age limit change

Downsizer contributions: Age limit change

The downsizer age limit will be lowered from 1 July 2022. If you’re thinking of downsizing, you can boost your super at the same time. To help those nearing retirement boost their super balances, those aged 65 and over are able to make downsizer contributions of up to...

COVID-19 tests may be deductible?

COVID-19 tests may be deductible?

The government has proposed to make COVID-19 tests, both rapid antigen and polymerase chain reaction tests, tax deductible for individuals where they are purchased for a work-related purpose.  After the recent furore over the non-existent supply of COVID-19 rapid...