Sorting Out Late Tax Returns – It’s Easier Than You Think
Sorting Out Late Tax Returns It’s Easier Than You Think In 30 years of preparing tax returns, some of the most relieved and happy clients you come across are those whom we have helped “catch up” and lodge late tax returns. Apart from straight out forgetfulness, failure to lodge a return can happen for a […]
All We Want for Xmas is a Good Vaccine
All We Want for Xmas is a Good Vaccine After a year like no other, 2020 Christmas wish lists are likely to include a lot of non-material requests for Santa to fulfill. The usual wish-list of bright shiny new things could be replaced by hopes for: an effective COVID-19 vaccine, a safe environment for […]
2021 – Risks & Opportunities Emerging From 2020
2021 – Risks & Opportunities Emerging From 2020 All social and economic disruptions come with their own unique set of related risks and opportunities. After weathering Australia’s Covid 19 experience, the borders between the states and territories are now all-but open. The year 2021 is in sight and there is a hunger for a return […]
Get Ready for ATO Payment Plans – with Strings Attached!!!
Get Ready for ATO Payment Plans – with Strings Attached!!! Taxpayers will need to prepare for tougher rules around tax debt payment plans and justifying historical JobKeeper payments. In a recently published article in the accounting press, a newly appointed tax controversy partner at Holding Redlich, Sue Williamson FCPA, warned that accountants and their clients […]
Refunds for Tax Losses
Refunds for Tax Losses If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits. In the 2020-21 Federal Budget, the Government announced that businesses with turnover under $5bn* will be able to offset any losses made between 2019-20 and 2021-22 against previously taxed […]
Latest Tax News and Budget Announcements
Latest Tax News and Budget Announcements The 2020-21 Budget delivered a range of incentives for businesses to invest. If you would like us to review your position and the tax impact of any investments you are contemplating, please contact us at office@agilisaccountants.com.au or 07 3510 1500 and we can assist you to get the best […]
Tax Deductions for Investing in Your Business
Tax Deductions for Investing in Your Business Stimulating investment spending is high on the Government’s agenda. To encourage spending, the 2020-21 Budget introduced a measure that allows businesses with turnover under $5bn* to immediately deduct the cost of new depreciable assets and the cost of improvements to existing assets in the first year of use. […]
JobMaker Hiring Credits: What We Know So Far
The JobMaker hiring credit announced was in the 2020-21 Federal Budget. The legislation enabling the JobMaker scheme has not passed Parliament as yet and until this occurs, the JobMaker rules are not certain and may change. More details should be available soon and we’ll let you know as soon as we have some certainty. Here […]
ATO Tax Update: Where are My Tax Cuts?
ATO Tax Update: Where are My Tax Cuts? You’ve heard about them… You’ve read about them… But when (and how) are you going to receive the personal tax cuts announced in the Federal Budget earlier this month?? Part of the announcement was that the tax cuts were backdated, for all employees, to 1 July 2020. […]
Beware: New Alternative Tests for JobKeeper 2.0
Beware of New Alternative Tests for JobKeeper 2.0 The introduction of JobKeeper 2.0 will be starting from 28 September 2020 onwards. The new levels of payments and how they will be assessed have been widely publicised – you can read more about that here. The original JobKeeper legislation included various alternative tests that could be […]
