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Hot Issues
300,000 SMEs utilising $20K write-off, says ATO
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Capital Gains and Renounceable Rights
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Australian Dietary Guidelines and healthy eating chart (PDF)
Former director liable for company’s unpaid tax liabilities
Resources on our site to help you, your family and your friends.
Super for housing measures enter Senate
No Special Circumstances to allow Excess Super Contributions
Housing tax measures progress to Parliament
AirBnb – wrong tax outcome?
Are young investors wasting their youth?
ATO sending 'more letters than ever' on income tax errors
Powerful Budgeting, cash flow and Super Tools available on our site.
Property, unit trusts in ATO's sights
Australian Dietary Guidelines and healthy eating chart (PDF)
Major Bank Levy Passed
NSW tops list as ATO reveals billions in lost super
Australia's leading causes of death - ABS
How is your super going, ready for retirement?
ATO increasing data exchange with international regulators
Illegal SMSF early access scheme leads to $6,000 fine
Our 'hardest' SMSF tasks
Uber drivers hit for 10% tax
Lack of literacy promotes unrealistic goals
Taxpayer failed to prove that payments were “loans”
New STP dates confirmed as ATO goes on compliance blitz
ATO flags compliance project for FY17/18
Items that heat up your depreciation deductions
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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