Category: Taxation

Directors of companies need to register for a new identification number called a director identification number (director ID) This is a unique identifier that a director applies for once and keeps forever. You’ll need a director ID if you’re a director of: a company a registered foreign company a registered Australian body, or an Aboriginal and Torres Strait Islander corporation. You can apply for your director ID at Australian Business…

I am sure you are getting excited at being able to very soon, lodge your 2021 income tax return.  While the temptation to lodge tax returns early this year may be great, taxpayers have been urged to hold out until the ATO finalises income statements and pre–fill information to avoid a surprise tax bill down the road. “We understand that some individuals have been adversely impacted by COVID-19 through loss…

With the end of the tax year approaching , now is the time to see what you can do to minimise your tax for 2021. This would mean more money in your pocket for you and your family to enjoy and put some fun back into the tough year it has been. To minimise your Business tax click here. Personal Tax Home Office Expenses during Covid-19 If you worked at…

With the end of the tax year approaching, now is the time to see what you can do to minimise your tax for 2021. This would mean more money in your pocket for you and your family to enjoy and put some fun back into the tough year it has been. To minimise your Personal tax click here. Business Tax Temporary Full Expensing Businesses with an aggregated turnover of less…

Capitalism or socialism, that is the question. The Federal Government has released the budget for 2022 and it is a very socialist focussed budget in a way. As capitalism is what grows economies and the wealth of nations, the government has applied the correct balance of the two systems. As the country is in trouble because of Covid, it has come to the rescue with a safety net. Read below…