by Kellyann Connell | Aug 8, 2019 | Uncategorized
Confusion over personal income tax changes – what are you really entitled to? The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The...
by Kellyann Connell | Aug 8, 2019 | Uncategorized
‘Proof of life’ certificates required for overseas pensioners One of the stranger pieces of legislation to be introduced into Parliament last month is an attempt to ensure that overseas welfare recipients over the age of 80 are in fact, alive. There are approximately...
by Kellyann Connell | Aug 8, 2019 | Uncategorized
Why the Government does not want your business accepting cash payments of $10,000 or more From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal...
by Kellyann Connell | Aug 8, 2019 | Uncategorized
When an employee uses a taxi service for travel to or from work or if the employee is sick, it is generally exempt from Fringe Benefits Tax (FBT) under the FBT taxi travel exemption. The question is, what about Uber and other ride sharing services, do they also...
by Kellyann Connell | Aug 8, 2019 | Uncategorized
Tax treatment of compensation from financial institutions By 30 June 2019, five major financial institutions paid $119.7 million in compensation for poor financial advice to 6,318 customers. The question is, how are these payments treated for tax purposes? The tax...
