In response to the Coronavirus crisis, the Federal Government has outlined new measures in a stimulus package worth nearly $18 billion. SMEs, pensioners and selected sectors such as tourism will be the biggest beneficiaries in an effort to boost the economy and save jobs. Below is a summary of the measures outlined in the plan.
With the 28 October Super Guarantee deadline just weeks away, it’s now more important than ever that employers meet their super obligations on time, and in full. Now that the SG amnesty is back on the table…
The ATO Commissioner, Mr Chris Jordan, earlier this year stated that following ATO efforts, for the first time in almost 25 years, the average work-related claim decreased over the past 2 years.
Smaller employers (with less than 20 employees) must commence reporting via Single Touch Payroll (STP) from 1 July 2019 after legislation passed Parliament this week.
The ATO has just advised that from February it will be contacting businesses in the building and construction industry about any overdue TPARs.
The ATO have said it will examine the information provided by online platforms like Airbnb, Stayz and others to identify taxpayers who had left out rental income and over-claimed deductions.
Rental property investors should check if they fall into one of these exceptions before they lodge and claim for rental travel. If they have already lodged and made a mistake, we encourage them to lodge an amendment.