2020/21 Individual Tax Return Checklist
Tax saving strategies prior to 1 July 2021 A strategy often used to reduce taxable income (and, in turn, tax payable) in an income year is to bring forward any Read More…
2020/21 Year-end Checklist for Business
Traditionally, year-end tax planning for small businesses is based around accelerating deductions and deferring income However, this year, consideration will also need to be given to the impact of the Read More…
2021/22 Federal Budget
Omnis Group Federal Budget Summary 2021/22 Key points covered by this summary: Personal income tax changes Changes affecting business taxpayers Superannuation related changes 1. Personal income tax changes 1.1 Retaining Read More…
How to avoid getting dodgy advice
Be wary of untrustworthy advice recommending inappropriate or illegal behaviour The ATO has warned taxpayers who may be thinking about pausing, changing or closing their business, due to the current Read More…
Simplified home office expense deduction claims due to COVID-19
Update to ATO home office expense deduction claims Given that many Australians continue to work from home due to COVID-19, the ATO has updated its Practical Compliance Guideline. The Practical Read More…