The Student Financial Supplement Scheme (SFSS) was a voluntary loan scheme for tertiary students to help cover their expenses while they study The SFSS closed on 31 December 2003 and no new loans have been issued. Existing Financial Supplement debts will continue to be collected through the tax system. IfRead More →
Have you or are you currently studying at university? If so, you are likely to have a HELP/HECS debt. Notifying your Employer You are required to let your employer know that you have a HELP debt, this can be done via an Employment Declaration form at the commencement of your job or atRead More →
Every year I update the Income Tests for Family Tax Benefit Part A on this blog, I do this for several reasons, the first being that I have an easy way of retrieving the income thresholds should a client ask.The second is, that historical information on www.humanservices.gov.au is very hard toRead More →
As you may be aware, Monday 20th April the ATO is accepting applications for the Jobkeeper program. As this will be the first time I have had to apply for the program for my clients it is a learning curve for me too, please be patient as I work outRead More →
As you may be aware, Monday 20th April the ATO is accepting applications for the Jobkeeper program. As this will be the first time I have had to apply for the program for my clients it is a learning curve for me too, please be patient as I work outRead More →
As you may be aware the Government is assisting businesses during the Covid-19 shutdown. Boosting cash flow for employers If you are employing staff and need to withhold tax then the amount of tax withheld will still need to be reported to the ATO on your BAS, the ATO willRead More →
$20,000, $25,000 or $30,000 In this financial year, 1st July 2018 to 30th June 2019 there has been 3 different values at which you can write off the full cost of an asset. So which value applies to your purchase? Up to 7.30pm (AEST) on the 28th January 2019, itRead More →
I was out a while ago with my wife and we decided that for lunch, we go to a nice vegetarian eatery that is a part of a plant nursery in one of Adelaide’s beachside suburbs. What can I say, the meal was fantastic, followed by coffee and cake. AllRead More →
PAYG Instalments is a system where regular payments are made to the ATO to cover your annual tax liability. To be added to the installment system your income from your business and/or income from your investments must be greater than $4000 and the amount due on your most recent NoticeRead More →
One of the questions I was recently asked via my newsletter subscription; “Hello Geoff, I have a question about motor vehicle expense claims. We are full-time cereal farmers, recently I purchased a new car for myself, a medium size SUV. I use this car to attend to all the farmingRead More →