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The case of the taxpayer who was paid too late

The case of the taxpayer who was paid too late What a difference timing makes. A recent case before the Administrative Appeals Tribunal (AAT) is a reminder about the tax impact of the timing of employment income. In this case, the taxpayer was a non-resident working in Kuwait. As part of his work, he was [...]

2023-09-11T15:45:48+10:00September 15th, 2023|Tax|

The Billion Dollar TikTok Scandal

The Billion Dollar TikTok Scandal $1.7 billion paid out in fraudulent refunds, another $2.7bn in fraudulent claims stopped, around 56,000 alleged perpetrators and over 100 arrests to date. How did the TikTok tax scandal get out of control? It was promoted as a victimless hack that delivered tens of thousands of dollars into your bank [...]

2023-09-11T14:42:30+10:00September 8th, 2023|General News, Tax|

Legislating the ‘objective’ of super

Legislating the ‘objective’ of super The proposed objective of superannuation released in recently released draft legislation is: ‘to preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way.’ The significance of legislating the objective of super is that any future legislated changes to the superannuation system must [...]

2023-12-12T16:40:23+10:00September 7th, 2023|Super|

Thinking of subdividing? The tax implications and pitfalls of small-scale subdivisions

Thinking of subdividing? The tax implications and pitfalls of small-scale subdivisions You’ve got a block of land that’s perfect for a subdivision. The details have all been worked out with Council, the builders, and the bank. But, one important aspect has been left out; the tax implications. Many small-scale developers often assume that their tax [...]

2023-09-11T13:40:38+10:00August 25th, 2023|Property, Tax|

Why is my tax refund so small?

Why is my tax refund so small? The tax refund many Australians expect has dramatically reduced. We show you why. There is a psychology to tax refunds that successive Governments have been reticent to tamper with. As a nation, Australia relies heavily on personal and corporate income tax, with personal income tax including taxes on [...]

2023-09-11T14:22:29+10:00August 4th, 2023|Uncategorized|

Backing a winner: Digital games tax

Backing a winner: Digital games tax The digital games and interactive entertainment sector is the largest creative sector in the world and one of the fastest growing industries worldwide. The global digital games industry is worth around $250 billion and in Australia, grew 22% between 2020 and 2021 generating $226.5 million in income and employing [...]

2023-09-11T13:22:02+10:00July 16th, 2023|Uncategorized|

What changed on 1 July 2023

What changed on 1 July 2023 Employers & business Superannuation guarantee increases to 11% from 10.5% National and Award minimum wage increases take effect. The minimum salary that must be paid to a sponsored employee - the Temporary Skilled Migration Income Threshold - increased to $70,000 from $53,900. Work restrictions for student visa holders reintroduced [...]

2023-07-14T09:54:55+10:00July 7th, 2023|Uncategorized|

Important: 1 July 2023 wage increases

Important: 1 July 2023 wage increases For employers, incorrectly calculating wages is not portrayed as a mistake, it’s “wage theft.” Beyond the reputational issues of getting it wrong, the Fair Work Commission backs it up with fines of $9,390 per breach for a corporation. In 2021-22 alone, the Fair Work Ombudsman recovered $532 million in [...]

2023-07-14T09:54:37+10:00July 1st, 2023|Uncategorized|

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