New GST withholding rules
Common errors with new GST withholding rules The ATO has noticed some common errors made in activity statements since the introduction of “GST at settlement” on 1 July 2018. These Read More…
Instant asset write off
Legislation proposed to increase instant asset write-off threshold Using the simplified depreciation rules, assets costing less than the instant asset write-off threshold are written off in the year they are bought and used, or Read More…
Mid-Year Economic and Fiscal Outlook
MYEFO report Mid-Year Economic and Fiscal Outlook (‘MYEFO’) report recently released. It indicates that the underlying Budget deficit is expected to be $5.2 billion in 2019 (down from the $14.5 Read More…
Taxable Payments Reporting System
Expansion of the TPRS The Taxable Payments Reporting System (TPRS) has been expanded to the cleaning and courier services industries from 1 July 2018. Businesses that have an ABN and Read More…
Electronic sales suppression tools
Ban on electronic sales suppression tools From 4 October 2018, the Government has banned activities involving electronic sales suppression tools (ESST) that relate to people or businesses that have Australian Read More…