by Meredith Horner | Apr 2, 2024 | 1st Stop News, Superannuation, Tax Deductions, Tax Reporting
How to claim working from home expenses Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction: ■ the actual cost method; or ■ the fixed rate...
by Meredith Horner | Mar 11, 2024 | 1st Stop News
Super contribution caps to rise The big news story for those contributing to super is that the contribution caps are set to increase from the 2025 income year. ■ The concessional contribution cap will increase from $27,500 to $30,000. This ‘CC’ cap is...
by Meredith Horner | Feb 15, 2024 | 1st Stop News
Government announces changes to proposed ‘Stage 3’ tax cuts Despite previous assurances, and after much speculation, the Government has announced tweaks to the ‘Stage 3’ tax cuts that will apply from 1 July 2024. More particularly, the...
by Meredith Horner | Nov 1, 2023 | 1st Stop News
Tax issues for businesses that have received a support payment Taxpayers who have received a government support grant or payment recently to help their business recover from COVID-19 or a natural disaster should check if they need to include the payment in their...
by Meredith Horner | Oct 11, 2023 | 1st Stop News
Taxpayers need to get their ‘rental right’ The ATO reminds rental property owners and their tax agents to take care when lodging their tax returns this tax time. When preparing their tax returns, taxpayers should make sure all rental income is included,...
by Meredith Horner | Sep 5, 2023 | 1st Stop News
The ATO reminds SMSF trustees that they need to appoint an approved SMSF auditor for each income year, no later than 45 days before they need to lodge their SMSF annual return. An SMSF’s audit must be finalised before the trustees lodge their SMSF annual return, as...
