Taxation

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eofy tips and reminders

July-August Bookkeeping Tasks

July 16, 2019

Important dates not to be missed. BAS Reconciliation and Common Issues All businesses registered for GST must lodge their Business Activity Statement (BAS) by 28 July 2019. If you have made quarterly BAS lodgements, this final lodgement should be easier and quicker to reconcile. However, make sure you take the following steps to avoid common […]

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asset write-offs

Tips to Coding the Instant Asset Write-Off Post Budget

April 16, 2019

Legislation passed at the start of this month, regarding the instant asset write-off for small and medium sized businesses with a turn-over of less than $50million. There are now three tiers of threshold that bookkeepers, accountants and tax agents need to be aware of for this financial year and next.   Thresholds       […]

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Payroll

Legislation passes for Single Touch Payroll for all Australian businesses

March 21, 2019

Last month it was legislated that Single Touch Payroll (STP) will be extended to employers with 19 or fewer employees, starting from 1 July 2019. This means that no longer will any business be reporting their payroll activity once a year to the ATO, instead every business in Australia will need to send a report […]

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Labor announces planned doubling of penalties for tax avoidance schemes

November 16, 2018

The opposition is proposing a hefty increase in penalties for those found marketing tax avoidance schemes, should they win the next election. In recent years the Australian Taxation Office has begun a crackdown on accountants and lawyers who are found to promote tax avoidance schemes to their clients. Corporate entities can face fines of up […]

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2018 tax financial planner renewal

How to renew your financial planners & tax financial advisers registration for 2018

January 12, 2018

Generally, you must apply to renew your registration at least 30 days before it expires. You will remain registered until we make a decision on your application. If approved, your registration period will be renewed for at least three years. Full details of the can be found on the Tax Practitioners Board Website.   Applied […]

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TPB_Financial_advisers_registration

Tax (financial) advisers urged to beat the renewal rush

November 17, 2017

The Tax Practitioners Board (TPB) is urging Tax Financial Advisers who need to renew their registration by 1 January 2018 to get in early as almost 13,000 other practitioners will be due to renew at the same time. Chair of the TPB, Mr Ian Taylor, encouraged tax (inancial advisers to renew early to avoid application […]

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renewal_tpb

Tax Financial Adviser registration deadline approaching

October 10, 2017

The TPB have published a very useful resource for Tax Financial Advisers who need to renew their license. The key steps in the process are: Determine your representative status Review the required qualification and relevant experience Determine if a board approved course for tax (financial) advisers is required to be completed –¬†Applied Education’s unit and […]

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Tax Preparation Course

Information for Tax Financial Advisers

July 29, 2015

If you are a Tax financial advisor who has registered with the Tax Practitioners Board (TPB) under the Notification or Transitional option, are you aware that you will have to fulfil a number of requirements before you can re-register under the Standard Option? To apply to register or renew your registration as a tax (financial) […]

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Tax-free threshold with more than one payer

April 2, 2013

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 […]

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