Phone: (03) 9563 4688

Email: office@aubreypaton.com.au

Address: 17D Chester Street, Oakleigh VIC 3166

Latest Accounting News
Hot Issues
Federal Budget 2019 - Overview
How the 2019 Federal Budget affects you
FBT Reminder – Odometer Reading
‘Big awareness push’ underway as STP deadline approaches
GST collection on overseas goods at 300% of forecasts
The problem with getting to 53 years of age.
Lost Beneficiaries
New quarterly STP reporting method for closely held payees revealed
Some Australian figures to help on Budget night.
Employers hit with rolling SG audits as ATO toughens stance
Resources to help understand and implement Single Touch Payroll (STP)
Big fines, prison on the cards as new SG penalties introduced
Extra website resources and tools is one way we offer you and your family more.
FBT Exemption for Various Work Vehicles
Tax payable on expenditure recoupments
ATO identifies SMSF contravention red flags
Who wins dispute about taxable income?
Australia - facts & figures March 2019
Strategies to handle scam phone calls and problem e-mails.
Instant asset write-off threshold upped to $25k
Jail time for GST fraud
Correcting GST Errors
Fuel tax credit rates raised
ATO set to contact clients for overdue TPAR
Reminder on Victoria Property Duties
How Australia is performing.
Global outlook summary: Down but not out
Bookkeepers remind on incoming TPRS obligations
Golden Rules for Deductions
How's Australia going - vital statistics?
Tax, SMEs set to be ‘political football’ in 2019 as election nears
Articles archive
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Quarter 3 of 2013
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