In this issue:

If you are a ride-sharing driver (such as with Uber) or if you are a rider, there is a raft of tax issues to be aware of from both standpoints. From GST, income tax, deductions, and PAYG withholding…we’ve got it all covered.

Bonus Articles

• Small business lifetime cap

• Transitioning to retirement.

Please contact us for clarification, or further advice, regarding any of the topics covered in this newsletter.

If you're a small business owner, you'll know that you're required to pay your employees (and certain contractors) superannuation guarantee (SG) in addition to their salary or wages. But how do you pay your SG contributions in a simple and effective way? The answer is through a superannuation clearing house (SCH).

If you're a small business owner, you'll know that you're required to pay your employees (and certain contractors) superannuation guarantee (SG) in addition to their salary or wages. But how do you pay your SG contributions in a simple and effective way? The answer is through a superannuation clearing house (SCH).

In this issue: The STP regime is a government initiative that is designed to reduce an employer’s burden when reporting to Government agencies such as the ATO. STP phase 2 is now here, and employers must start reporting by 1 March 2022. By consolidating your superannuation, you can potentially save tens of thousands of dollars…

The ATO has seen a lot of mistakes being made on business tax returns over the years, but has kept a record of these so we can all learn from other people’s errors. Laundry expenses can be a legitimate tax deduction, but claims need to follow certain rules, which we sketch out.

Cryptocurrencies, once again surging in popularity, have a unique tax treatment that every taxpayer dealing with cryptocurrency should be aware of.

The Government has decided not to go down the austerity path, which will be a relief for many taxpayers and businesses.

It’s getting very close to the business end of the financial year, so we have gathered some tax planning tips that could set you up for a better tax outcome. And as that outcome can be ruined by having to deal with an excess super contribution charge, we look at how best to avoid it.

The ATO has tightened the evidence requirements for real property valuations for SMSFs, so we look at how to keep your fund compliant, and also bring some good news with the recently launched SME Recovery Loan Scheme, plus an expansion of the ATO’s independent review service.

As much of the world continues to struggle with the impact of lingering second waves and third waves of the COVID-19 pandemic, there’s a few things we can be thankful for here in Australia.

The new ‘debt levy’ will directly hit many small businesses, particularly those that are unincorporated – which comprise up to 70% of small businessesThe new ‘debt levy’ will directly hit many small businesses, particularly those that are unincorporated – which comprise up to 70% of small businesses