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 [...]
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 [...]
We are hearing a lot about (yet more) proposed changes to superannuation. This time the income tax paid by companies which is passed on through dividends to shareholders (including EVERY superannuation fund in Australia) is under fire. So here is the simple truth. Every cent in franking credit refunds for [...]
On 19 May 2017, the Administrative Appeals Tribunal heard the case of Adam Hamilton vs Commissioner of Taxation, better known as "Bechtel Bob's" test case. Deputy President I R Molloy handed down his decision yesterday, 26 May 2017. You can read the case decision here: http://www.austlii.edu.au/au/cases/cth/AATA/2017/734.html In summary: The taxpayer (and his [...]
We are pleased to announce that effective from 1 April 2016 Cooper & Associates Accountants acquired Monitor Taxation Services. Kaye, Tanya, Jeremy and all our friendly professional staff will continue to manage your accounting, taxation and financial planning needs. You can still rely on the same high quality, professional service that [...]
It's a question we often get asked by clients. So we've taken the time to explain why. Within your Income Tax Return, you must make a legal declaration whether you had a spouse during the year; where you answer ‘yes’ to this question then the Australian Taxation Office (ATO) require [...]
The Team has had quite a few queries from Taxpayers who work on the island about the Travel Allowances and Ferry Allowances they have been paid, so what say we talk about this issue. Some local Tax Agents have been recklessly claiming deductions on behalf of their Clients against these [...]
