our latest news

Year: 2022

Director ID requirements for all Directors of Companies

Are you a Director of a company? If so, then you are required to complete a Director ID by 30 November 2022! This is compulsory and needs to be completed by 30th of November 2022! ASIC have advised that hefty penalties will be applied if your Director ID is not completed in time. A Director…

Working from home business expenses including setting up your home office

Claiming “Working from Home” Expenses at Tax Time (2021-22)

Lately, we have been asked many questions relating to COVID-19 and how it will impact claimable deductions in the 2021-2022 Tax Year. The reality is that there are going to be some significant changes. Especially given many of you have incurred additional working from home expenses, that you wouldn’t typically experience in your normal working…

2022/23 Federal Budget & What It Means For You!

This week, the Australian Government have released the 2022/23 Federal Budget. Today, we would like to break it down for you so you can get a better understanding of what it means for you & your business. Increase to low and middle income tax offset (LMITO) Announced is a once-off $420 cost of living tax…

Single Touch Payroll Phase 2 employer reporting

Single Touch Payroll (STP) phase 2 is now the way an employer reports their employees superannuation and tax information to the ATO when you run your payroll. The information that will be submitted to the ATO includes gross pay, paid leave, allowances, PAYG withholding & super liability information. You’ll no longer have to send the…