by Meredith Horner | Aug 4, 2023 | 1st Stop News
Claiming GST credits for employee expense reimbursements Employers may be entitled to claim GST input tax credits for payments they have made to reimburse employees for expenses that are directly related to their business activities. A ‘reimbursement’ is...
by Meredith Horner | Jul 3, 2023 | 1st Stop News
Court penalises AMP $24 million for charging deceased customers The Federal Court has found that four companies that are or were part of the AMP Group breached the law when charging life insurance premiums and advice fees from the superannuation accounts of more than...
by Meredith Horner | Jun 27, 2023 | 1st Stop News
The Technology Investment Boost provides small & medium business with a 20% BONUS tax deduction for eligible expenditure incurred for the purposes of a business’s digital operations or digitising the business operations. This means you can claim 100% of the...
by Meredith Horner | Jun 12, 2023 | 1st Stop News
2023/24 Budget Update On 9 May 2023, Treasurer Jim Chalmers handed down the 2023/24 Federal Budget. Some of the measures announced by the Government (including some which were actually announced prior to the Budget), include: ❑ from 1 July 2026, employers will be...
by Meredith Horner | May 10, 2023 | 1st Stop News, Tax Deductions, Tax Reporting
Last chance to claim deductions under temporary full expensing Deductions under ‘temporary full expensing’ are only available in the 2021, 2022 and 2023 income years, and are expected to come to an end on 30 June 2023. Editor: Under temporary full expensing,...
by Meredith Horner | Mar 6, 2023 | 1st Stop News, GST, Superannuation, Tax Deductions, Tax Reporting
Significant change to claiming working from home expenses Before 1 July 2022, an individual taxpayer that incurred additional deductible expenses as a result of working from home, had a choice of three methods to claim these expenses. These choices were: The shortcut...
