As of the first of 1st July 2022, there are changes to who is eligible for super and how much needs to be paid With the start of the new financial year employees are eligible for super guarantee payments regardless of how much they earn. As of the 1st of July 2022, the $450…
For the 2022 financial year the ATO is allowing deductions for COVID-19 related PPE. Generally, to claim a deduction for PPE you need to show the following: You are exposed to the risk of illness or injury in the course of carrying out your work duties The risk is not remote or negligible Given…
This tax season the ATO has announced it is targeting four key areas: Record-keeping Working from home related expenses Rental property income and deductions, and Capital gains from crypto assets, property, and shares. The ATO has given the following guidance as how to avoid scrutiny. Record Keeping: Make sure you have records to…
As of the 1st of November 2021, the ATO and ASIC has introduced new identification rules for directors. Directors will need to apply for their director ID. All directors will need to register for a director ID. Once you apply and receive your director ID you will not need to do so again regardless if…