Is Uber (and other ride sharing services) considered to be a taxi according to the Tax Office?..... The answer may surprise you. In a recent announcement, the ATO has confirmed the the Fringe Benefits Tax exemption for taxi travel does not include ride-sourcing vehicles such as Uber or Lyft. Taxi [...]
It's a brand new financial year, and the start of a new financial year is the best time to set business resolutions for the year ahead. To jumpstart your planning, we have put together 11 resolutions no small business should do without. Do a financial health-check of your business The [...]
The 2019 Federal Election has been called for 18 May 2019, with tax and superannuation policies attracting significant attention. We have prepared the following summary of tax and superannuation policies for the current Government - the Liberal-National Coalition, and the Australian Labor Party. The information has been collated from public [...]
The Australian Taxation Office (ATO) is collecting bulk records from Australian cryptocurrency designated service providers (DSPs) as part of a data matching program to ensure people trading in cryptocurrency are paying the right amount of tax. There has been significant growth in participation of crypto-assets in recent years. It is [...]
Last night, the Treasurer Josh Frydenberg handed down the 2019-20 Federal Budget. Here are some of the key Budget Measures announced. Economic Update Estimated Budget Positions 2018-19 -$4.2 billion deficit 2019-20 $7.1 billion surplus 2020-21 $11.0 billion surplus GDP 2018-19 2.25% 2019-20 2.75% 2020-21 2.75% Unemployment Rate 2018-19 5.00% 2019-20 [...]
Do you have employees? Do you prepare payroll records? Things are changing from 1 July 2019, and YOU need to be ready! Single Touch Payroll is here! Single Touch Payroll is the biggest legislative change for employers since the introduction of the GST. No matter how many (or few) staff [...]
Late last year, the Government released a number of Tax and Superannuation measures in its Mid-year Economic and Fiscal Outlook (MYEFO). Tax Measures Cash payment limit — the 1 July 2019 start date for the proposed 2018 Budget measure to introduce an economy-wide cash payment limit of $10,000 will be [...]
Queensland’s building regulator, the Queensland Building and Construction Commission (QBCC), have announced changes as part of the Queensland Government’s security of payment reforms, which strengthen the Minimum Financial Requirements (MFR) for licensing. The first stage of these laws commenced on 1 January 2019. Background The QBCC has historically required that [...]
In a significant decision which has widespread implications for the future employment of casual employees, WorkPac Pty Limited v Skene [2018] FCAFC 131 (WorkPac v Skene), the Full Court of the Federal Court upheld a decision finding that an employee - who was described as a casual, and paid accordingly, was in [...]
Family and Domestic Violence Leave From the first full pay period on or after 1 August 2018, all employees (including casuals) that are covered by an award will be entitled to five (5) days of unpaid family and domestic violence leave each year. Employees can take the leave if they [...]
