Some great news brought in by the Federal Budget to all small businesses, is the decrease of the corporate tax rate from 30% to 28.5% (effective 1 July 2015).  This will apply to all companies that have a turnover of less than $2,000,000.  If your company is one of many businesses that you conduct, itread more

The ATO are changing the way they communicate and are now committed to using electronic channels as their preferred means for delivery of ATO correspondence. They have implemented more modern forms of communication methods, such as SMS, email and secure messages sent to clients via their myGov Inbox. The myGov portal is a simple way toread more

The ATO has recently launched a new feature to its application: the myDeductions tool. The tool aims to provide a more convenient, organised and easier way of recording and storing receipts for employees who are claiming work-related expenses. Work-related car, travel, uniform, self-education and home office expenses are some of the fees that can beread more

R&D Tax Incentive Is your company turning over under $20M, been undertaking Research and Development (R&D) expenditure in the financial year ended 30th June 2015 and trading at a loss? You can receive a cash refund, calculated at 43.5% of the R&D expenditure within 30 days of lodging the company’s income tax return. If youread more

The Pay As You Go (PAYG) payment summary statement along with the originals of all the payment summaries you issued for the financial year make up your PAYG withholding annual report. Use this form by inserting the relevant financial year (this form can also be used for prior financial years). Once the form is completed,read more