The ‘Backpacker Tax’ and the High Court

The ‘Backpacker Tax’ and the High Court

The High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact. Since 2017, the ‘backpacker tax’ has taxed the first dollar of income a backpacker earns in Australia – regardless of their residency status – at the working...
The top Christmas tax questions

The top Christmas tax questions

Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top issues: Staff gifts The key to Christmas presents for your team is to keep the gift spontaneous, ad hoc, and from a tax perspective, below $300 per person....
If Santa was an Australian tax resident

If Santa was an Australian tax resident

Dear Mr Claus, Thank you for the opportunity to provide strategic business, tax and compliance advice for your operation. We’re pleased you have initiated this advice as the Australian Taxation Office (ATO) has instigated a number or reviews that may impact on your...
NSW commercial landlord hardship fund

NSW commercial landlord hardship fund

The NSW government has introduced a hardship fund for smaller landlords whose main source of income is impacted by providing rental relief to retail or commercial tenants who have been financially impacted by the 2021 COVID-19 lockdown.  Under the scheme, landlords...
Cryptocurrency guidance

Cryptocurrency guidance

The ATO has released some additional (but brief) guidance on some of the key issues that tax practitioners should consider when clients are engaged in cryptocurrency investment or mining activities.  The ATO makes the comment that most people hold cryptocurrency as an...
STP changes for 2022

STP changes for 2022

From 1 July 2021 small employers with closely held payees and micro employers reporting quarterly will need to commence reporting through single touch payroll (STP).  The STP report is due at the same time as the employer’s activity statement. Employers with closely...
Preparing for the director ID regime

Preparing for the director ID regime

The Director ID regime starts 1 November. While existing Directors have a year to register, newly appointed Directors have 28 days. The Government has introduced a new director ID regime with the aim of preventing the use of false and fraudulent director identities...
What happens to your superannuation when you die?

What happens to your superannuation when you die?

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of...
Unwinding COVID-19 Relief

Unwinding COVID-19 Relief

COVID-19 support will roll back as states and territories reach vaccination targets. The National Plan, the road map out of COVID-19, does more than provide greater freedoms at 70% and 80% full vaccination rates, it withdraws the steady stream of Commonwealth...