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Most Australians will rely on their superannuation to fund their retirement. Superannuation is a percentage of your salary that’s collected as part of your income tax and put into a fund that you will be able to access after your preservation age. However, the effectiveness of superannuation is widely misunderstood.
If you’re a small business owner, things have changed in the way you report your employee obligations and entitlements to the Australian Taxation Office (ATO). No matter how small your business is, even if you only have one employee, you’ll need to report your obligations using Single Touch Payroll.
Holiday worker. Backpacker. Overseas worker. There are tax rules and rates you’ll need to get signed off before you hire. Do you know what they are?
Most people simply don’t know all of their valid claims and pay more tax than they have to. So, what are the most common tax deductions people miss when they lodge their tax return?
The Tax Avoidance Taskforce was established to ensure multinational enterprises, large public and private businesses (and associated individuals) pay the right amount of tax in Australia. Established in 2016, the taskforce enhances and extends the ATO’s existing compliance activities.
It’s a creative world out there, and there’s a time and a place to explore your creativity. Paint a picture. Enrol in a pottery class. Take a dance class, but the Australian Taxation Office (ATO) draws the line at creative writing tax claims. What are the most common tax deduction myths?