If you have more than one payer at the same time, the ATO generally require that you only claim the tax-free threshold from the payer who usually pays the highest salary or wage (this is known as the primary source of income). If you earn additional income (for example, from a second job or a […]
Tax-free threshold with more than one payer Read More »
As of 22 February 2013, the ATO is waiting on a further announcement by the Government to confirm requirements of the Super Reform measure that will change the way super contributions are reported on an employee’s pay slip. In late June 2012 legislation was passed for this change, however details of the change and commencement
Payslip reporting of superannuation contributions Read More »
In January 2013, bush fires caused significant damage to some areas of Tasmania. If your business or residential address is in one of the identified affected postcodes listed on the ATO below, the ATO will automatically make arrangements to defer the following taxation obligations – you don’t need to apply for a deferral: lodgement and
Tasmanian bush fires – automatic BAS deferrals Read More »
Don’t be fooled into thinking that because a vehicle is a dual cab ute that it is automatically exempt from FBT and it can be salary sacrificed. Firstly, it must meet the criteria of MT2024 or being specifically listed on the ATO list of exempt dual cab utes. Secondly, private use must be limited to:
The dual-cab FBT ‘trap’ Read More »
The ATO has released the new PAYG payment summary for Employment Termination Payments (ETPs). We recommend you download the latest payment summary, as you now need to include reason codes on your ETP. The ATO has introduced a new ‘whole-of-income cap’. Prior to 1st July 2012 the concessional treatment of an employment termination payment (ETP)
Major changes to ETP PAYG payment summary Read More »