Debbie Grace 20/4/22 Debbie Grace 20/4/22

Fuel tax credit rates have changed.

As announced in the 2022-23 Federal Budget, fuel excise and excise equivalent customs duty (excise) rates for petrol, diesel and all other fuel and petroleum-based products, except aviation fuels, will be halved temporarily for 6 months, from 30 March to 28 September 2022.

Debbie Grace 4/4/22 Debbie Grace 4/4/22

2022/23 Federal Budget: Other budget announcements including Superannuation.

The latest Federal Budget was announced last week. Here are some of the most important things you need to know for this new financial year.

Debbie Grace 4/4/22 Debbie Grace 4/4/22

2022/23 Federal Budget: Personal income tax changes.

The latest Federal Budget was announced last week. Here are some of the most important things you need to know for this new financial year.

Debbie Grace 24/3/22 Debbie Grace 24/3/22

ATO Offers Support For Small Businesses Going Through Difficult Times.

Helping Small Businesses To Get Back On Track: A blog about the ATO's Taxpayer Assistance Program and what it offers to small businesses.

Debbie Grace 22/3/22 Debbie Grace 22/3/22

COVID-19 vaccination incentives and rewards.

The ATO has reminded employers to consider their tax and super obligations when employees are provided with incentives or rewards for getting their COVID-19 vaccination.

Debbie Grace 17/3/22 Debbie Grace 17/3/22

Government extends SME Recovery Loan Scheme to 30 June 2022.

The Government has recently extended the SME Recovery Loan Scheme by a further six months (to 30 June 2022) to support small and medium sized businesses adversely economically affected by the Coronavirus Pandemic.

Debbie Grace 15/3/22 Debbie Grace 15/3/22

Why you should factor in $3 per litre in fuel.

Fuel prices, where do we start? Filling your car up is now costing 40-50% more than it did a month ago. For the everyday consumer this may mean an extra $20-$50 a week, but for business it’s a lot more – for not only running your own vehicles and machinery but also price increases from suppliers. It’s not just fuel that will rise – inflation will see prices rise for everything from your daily coffee to your rent.

Debbie Grace 10/3/22 Debbie Grace 10/3/22

New Covid-19 financial support for WA businesses.

The McGowan Government announced that they would provide additional support for WA businesses most impacted by level two COVID restrictions that started last Thursday.

Debbie Grace 8/2/22 Debbie Grace 8/2/22

Treasurer unveils COVID-19 tests will now be classed a tax deduction.

Treasurer Josh Frydenberg provided a number of updates and announcements, including confirmation the federal government would look to ensure COVID-19 testing expenses are tax deductible when they are purchased for work-related purposes, giving businesses and individuals clarity and assurance.

Debbie Grace 2/2/22 Debbie Grace 2/2/22

Fuel Tax Credit Rate Increase 1 Feb 2022.

Fuel tax credit rates increased on 1 February 2022, so don’t forget to use the new rates when you calculate your claims on your next BAS. Fuel tax credit rates do change regularly. They are indexed twice a year, in February and August, in line with the Consumer Price Index.

Debbie Grace 25/1/22 Debbie Grace 25/1/22

ABN ‘intent to cancel’ program.

The ATO is reviewing Australian business numbers ('ABNs') to identify potentially inactive ABNs for cancellation, and it has introduced a new automated process to allow taxpayers (or their tax agents) to confirm if their ABN is still required via a secure voice response system.

Debbie Grace 19/1/22 Debbie Grace 19/1/22

Super is now following new employees.

The ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the choice of super fund rules.

Debbie Grace 12/1/22 Debbie Grace 12/1/22

Beware of scams.

Scamwatch is warning that scams cost Australian consumers, businesses and the economy hundreds of millions of dollars each year and cause serious emotional harm to victims and their families.

Debbie Grace 8/12/21 Debbie Grace 8/12/21

Government payments and AUSTRAC data-matching programs.

The ATO will acquire government payments data from government entities who administer government programs for 2017/18 to 2022/23 financial years.

Debbie Grace 1/12/21 Debbie Grace 1/12/21

Varying PAYG instalments due to Covid-19.

Taxpayers can vary their pay as you go ('PAYG') instalments throughout the year if they think they will pay too much, compared with their estimated tax for the year.

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.

Debbie Grace 25/11/21 Debbie Grace 25/11/21

Permanent changes to AGMs and electronic communications.

The Government has introduced into Parliament a Bill to permanently allow 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.

Debbie Grace 23/11/21 Debbie Grace 23/11/21

Reminder: Stapled Super Fund Requests now live.

From November 1, 2021 the ATO’s Stapled Superannuation Fund Request initiative became live. Which means if you have employed staff since this date and they have not nominated a super fund, you will need to request your employee’s stapled super fund via ATO Online Services.

Debbie Grace 16/11/21 Debbie Grace 16/11/21

Preparing for the new Director ID regime.

As part of its Digital Business Plan, the Government announced the full implementation of the 'Modernising Business Registers' program. This included recently enacted legislation introducing the new director identification number ('director ID') regime.