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Email: office@aubreypaton.com.au

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Hot Issues
In case you missed it – The company tax Bill that did pass Parliament.
GST spotlight headed to smaller end of town
Superannuation Amnesty – Maybe! Maybe Not!
ATO drills in car-sharing focus this tax time
What is Bankruptcy?
Update of Australia's vital statistics
ATO speaks on risk factors, surveillance triggers for FY19
ATO’s corporate residency guidance cops backlash
ATO dispels top tax time myths to clients as clampdown rolls out
Tools for budgeting, cash flow, Super and more ….
Guidance for SMSFs on transfer balance reporting
ATO issues alert on super, tax scams
Salary sacrifice integrity
Understanding the evolution of blockchain and cryptocurrencies
Update to Australia's vital statistics
Tax Time Checklists- Individual, Company, Trust, Partnership and Super Funds
SMSFs - Our 'hardest' jobs
Tax Office reveals adventurous, dubious claims ahead of tax time
ATO reveals top tax time mistakes, set to contact 1 million taxpayers
Watch out for charges with incoming GST laws.
Super savings gap for women stuck at 30%
‘Wipe the slate clean’: Clients, accountants urged to use new amnesty period
Statistics for all Australians
Touch Payroll (STP)
‘Calm before the storm’: Government proposes 12-month SG amnesty
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Articles
Liberal Party policies and discussion papers
Some terms defined
Flood Insurance - no changes
Pensioners Tax Returns 2013?
Donations - 2013
ATO - Tougher Conditions and Personal Liability
SMSFs: Where the ATO is Looking
A matter of knowledge
Tax Time Checklist 2013 - Individual
Tax Time Checklist 2013 - Company, Trust or Partnership
Tax Time Checklist 2013 - Superannuation Fund
Year End Reminders
Individual Income Tax Changes
Superannuation Guarantee Changes
Obscure disadvantage of family trusts.
Self-managed Superannuation Funds - New Obligations
Some terms defined

 

Every day we are exposed to words and phrases we don't really know the meaning of. The following seeks to help with a few of them.


 

 

 

 
     


Employee or contractor
Before your business engages a worker, you need to determine if they will be an employee or a contractor. Your tax and super obligations for employees and contractors are different.

Fringe benefits tax - businesses    
Fringe benefits tax (FBT) is paid on certain benefits employers provide to their employees or their employees' associates in place of salary or wages.

Gifts & fundraising
Information on fundraising including the requirements for receiving tax deductible gifts and what donors have to do to claim deductions for their gifts.

Pay as you go (PAYG) withholding - individual s
Pay as you go (PAYG) withholding is the way you pay your tax through the year if you are an employee. Your payer sends the tax to the Tax Office for you.

Pay as you go (PAYG) withholding - businesses  
You may be required to withhold amounts from employees and others and send the withheld amounts to the Tax Office.

Small business tax break
The small business and general business tax break provides an additional tax deduction for expenditure on certain qualifying assets. It provides a bonus deduction of 50% for small business and 30% or 10% for all other businesses providing certain eligibility criteria are met.



Source:  Australian Taxation office



27th-September-2013