With the 31 October fast approaching, so is the deadline for lodgement of many tax returns. If you’re making the last-minute scramble to gather all your tax documentation, keep in mind there are some changes in this year’s tax return particularly in relation to rental...
The sharing economy has become a big disrupter in the Australian market. It seems like everyone is getting in on the action of making a little extra money on the side whether it be renting out a spare room, driving for a ride sharing service,...
As a way to combat the rise in black economy, the government is planning to extend the Taxable Payments Reporting System (TPRS) to entities that provide road freight, IT, security, investigation, or surveillance services. The TPRS is a transparency measure that was first applied to the...
There’s finally some certainty about the corporate tax rate(s). Legislation has recently passed Parliament and the fate of other proposed changes has also been finalised. The rate of 27.5% applies to corporate tax entities known as “base rate entities”. These are companies which carry on...
In Australia, there are currently around 7.7m ABN's with over 860,000 new ABNs issued in 2017-18. The Australian Business Number system was originally introduced in 2000 as a way to provide businesses with a unique identifier when dealing with the government and to support the...
Before you head off overseas to work or start a business, you should consider the Australian residency tests. Leaving Australia for a period of time doesn’t mean that your Australian tax obligations are no longer relevant. Australian tax is based on the concept of “residency”....