We gave you the heads up 5 months ago that the Treasurer was postponing the introduction of the ‘standard tax deduction’ and the ‘50% discount on tax on interest earnings’ (see article ‘In case you missed it’ posted 15/12/2011), and with our realistic leanings,...
The Tax Office is introducing new reporting requirements for tradesmen and businesses in the Building and Construction industry commencing 1 July 2012. Those tradesmen/businesses that pay subcontractors will now have to report the following to the Tax Office:...
Here are the richest suburbs in Australia. They take into account people who work to the point where they have to pay tax, so it doesnt include the unemployed: Top 10 National postcodes: Postcode State Suburb Avg Taxable Income...
A guy needs money so he walked into a bank in Brisbane and asked for a loan. He told the bank that he was flying to Cairns for an international redneck festival for two weeks and needed to borrow $5,000 and that he was not a depositor of the bank. The bank manager...
The Tax Office has recently announced the introduction of a 15% rebate on the purchase of eligible ‘seeders’. One of the qualifications to receive the rebate is that the eligible equipment is purchased between 1 July 2012 and 30 June 2015 so if you need one don’t...
Here are a couple of scenarios involving people/businesses with overdue BAS’s that was recently sourced from the ATO website. If these circumstances are familiar to you then give us a call asap to get it sorted out: Example 1: Conviction and heavy fine for failing to...
