by Team Garnet | Oct 5, 2023 | ATO, Pensioners, Tax News
A permanent enhancement to the pensioner work bonus, along with a doubling of the employment income nil rate period, has been announced. As a part of the government’s strategy to get more people back into work to solve skills shortages being experienced by many...
by Team Garnet | Sep 6, 2023 | ATO, Tax News, Tax Time
Taxpayers with uncomplicated financial affairs have been given the green light to lodge their tax returns by the ATO. Will you get a refund this year? With only a little more than a month into tax time, the ATO has given the green light for taxpayers with...
by Team Garnet | Aug 28, 2023 | Crypto, Investments
Want to know how GST applies to crypto-assets? As digital currency becomes more commonplace in a business context both in terms of trading and using such assets for payment in Australia, one question that commonly arises for those businesses will no doubt be: does GST...
by Team Garnet | Jul 27, 2023 | ATO, Tax News
Businesses who make payments to contractors may need to report these payments and lodge a Taxable payments annual report (TPAR). You will need to lodge a TPAR if your business made payments in the last financial year (ie the one ending 30 June 2023) to contractors...
by Team Garnet | Jul 20, 2023 | ATO, Tax News
From 1 July 2023, employers have the option to use appropriate alternative statutory evidentiary documents to satisfy FBT record-keeping requirements. Employers that provide certain fringe benefits to their employees can soon use appropriate alternative statutory...
by Team Garnet | Jul 17, 2023 | Small Business, Tax News
Individuals, including sole traders, and partnerships (where at least one of the partners is an individual) can use the cents per kilometre method for car-related work or business expenses. The cents per kilometre method is a simple way to work out how much you can...
