No changes to Private Health Insurance rebate
In a little bit of good news, Australians with private health insurance will NOT see decreases to the Private Health Insurance rebate from 1 April.
In a little bit of good news, Australians with private health insurance will NOT see decreases to the Private Health Insurance rebate from 1 April.
The Taxable payments annual report (TPAR) must be lodged by 28 August each year. Taxpayers who operate in certain industries and that make payments to contractors may need to report these payments in a TPAR.
If you have been claiming the JobMaker Hiring Credit, please be aware that the ATO will now calculate an adjusted baseline headcount for the claim.
The ATO has proposed for individual taxpayers that use the cents per kilometre method when calculating tax deductions for their work-related car expenses, that the rate per kilometre for the income year starting 1 July 2022 (the 2023 income year) will be increased to 75 cents per kilometre.
Employers are reminded that their Superannuation Guarantee obligation for the 1 January 2022 to 31 March 2022 quarter is due by 28 April 2022.
Small employers are on notice as the ATO gets serious about Single Touch Payroll (STP) reporting.
Eligible companies have a 12-month extension to claim a loss carry-back tax offset in the 2023 income year.
Multiple changes to superannuation legislation are now in place and the ATO has put Trustees of SMSFs on notice in relation to record keeping. If you are unsure of your obligations, it’s important to seek advice.
A Bill recently introduced into Parliament permanently allows companies to use technology to meet their regulatory requirements, and ensure that companies can continue to meet their obligations amid the uncertainty of the COVID‑19 pandemic.
To assist taxpayers who continue to be affected by COVID-19, the ATO has stated that it will not apply penalties or interest on varied instalments for the 2021/22 income year for excessive variations when the fund has taken reasonable care to estimate its end of year tax.