The budget’s boost to instant asset write-off is now law Federal Budget night announced an increase in the instant asset threshold, and also an extension of which businesses could access the measure. Now the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 has achieved Royal Assent. (And it did so on […]
Single touch payroll rollout for smaller employers A major change in the way employers report the tax and super information for their employees to the ATO have been on the way for a while now. The single touch payroll (STP) system started to be rolled out gradually from 1 July 2018 for what the ATO […]
Federal Budget 2019 The Treasurer Josh Frydenberg’s first budget has lots of goodies with few “baddies”. This was to be expected with the next federal election only weeks away and the Coalition Government trying to make up ground in the polls. The Treasurer’s “wow” factor was a return to a budget surplus of $7.1 billion for […]
What is the ‘tax gap’? And how does the ATO measure it? Every year, the ATO measures its revenue and compares that total against the amount of revenue it should have made were every taxpayer fully compliant. As you may expect, very often the two numbers are different. And it is this discrepancy that has […]
Australians have been taking full advantage of the offerings on the digital marketplace with gusto for years now, but it has only been relatively recently that the rules for goods and services tax (GST) have caught up. With the purchase of digital products such as the streaming or downloading of movies, apps, and e-books and […]
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