Mature age worker tax offset, is for Australian residents for tax purposes who are 55 and over and are working. The tax offset is calculated on the net income that has been derived from working. Working usually requires an effort or skill that can be used to produce an income.Read More →
From 1 July 2009 the new fuel tax credit rate is 16.443 cents per litre. The new rate replaces the following the fuel tax credit of 17.143 from the 1st January 2009 to the 30th June 2009. The fuel tax credit prior to the 31st December 2008 was 18.51 cents per litre.Read More →
From July 1st 2009, all couples and families will be treated the same regardless of gender. Changes have been made to the definitions of spouse, defacto relationship, relationship and child to ensure that same gender couple are treated the same. What does this mean, for the income tax year startingRead More →
Keep your receipts throughout the year, for EVERYTHING. If unsure keep the receipt and ask your accountant if it is relevant. Keep your receipts organised and sort in to categories and total each category. If you are claiming a motor vehicle, keep a log book.Read More →
Today I completed an ABN registration, and noticed some substantial changes to the process. The changes I am discussing today are in regards to the questions asked in relation to being a contractor, this is where you will be asked: Are you applying for an ABN to operate as aRead More →
You are receiving family tax benefits, below are some helpful tips to stop you from owing Centrelink at the end of the year. As we all know, Centrelink asks for a estimate of your years income so they can pay the FTB. Tip 1, Overestimate your income and any adjustmentsRead More →
I am currently working on a client, that has not lodged a tax return since 1996. When you prepare tax returns over a 14 year period in a single sitting, you notice some real changes to the tax rates. For instance from 1st July 2009 the Low Income Tax OffsetRead More →
ASIC will be establishing a national online services that will enable businesses to register for a business name and a Australian Business Name (ABN) in a single transaction. This will reduce the red tape for business. ASIC is aiming to deliver an online business name service that: is cheaper andRead More →
As from the 1st January 2009 the fuel tax credit will be 17.143 cent per litre. The fuel tax credit prior to the 31st December 2008 was 18.51 cents per litre.Read More →
You can claim a fuel tax credit if your vehicle is used on public roads for carrying on a business and has Gross Vehicle Mass greater than 4.5 tonne. The rebate can be used for both petrol and diesel figures, but a diesel vehicle needs to meet one of theRead More →
Designed using Hoot Business. Powered by WordPress.