by Damian | Feb 7, 2024 | Tax News
What are the changes? Reduce 19% tax rate to 16% (for incomes between $18,200 and $45,000) Reduce the 32.5% tax rate to 30% (for incomes between $45,000 and $135,000) Increase the threshold at which the 37% tax rate applies from $120,000 to $135,000 Increase the...
by Damian | Jun 7, 2023 | Tax News
The Tax year is coming to an end at the 30th June! Below is some important Tax highlights for different Taxpayers, relating to: Individuals Trusts Companies Employment Compliance Individuals Proof: When making claims for deductions related to work expenses, such as...
by Damian | Mar 7, 2023 | Tax News
Taxpayers can choose one of two methods to claim Working From Home deductions: either the “Actual Cost” or “Fixed Rate” method. Only the fixed rate method is changing. The revised fixed rate method can be used from the 2022–23 income year onwards. The changes are:...
by Allison | May 22, 2022 | ATO/ASIC News
Directors Identification Number – New Legal Requirement There is a new legal requirement under the Corporations Act 2001 for all company directors to apply to the ABRS (the Registrar) for a unique 15-digit identification number known as a Director’s Identification...
by Allison | May 21, 2022 | Checklists/Financial Year
CDP & Co are reminding all business clients that are required to do a stock-take, need to do one as at the 30th June each year. Physical stocktaking is the process of counting, weighing or otherwise measuring all items in “Stock” and recording the results. The...
by Allison | May 21, 2022 | Checklists/Financial Year
Taxable Payments Annual Report Taxable Payments Annual Report for contractors paid during the Financial Year in certain industries must be lodged to the Australian Taxation Office (ATO) by 28th August each year. This applies for those clients who pay contractors and...
by Damian | May 16, 2022 | Uncategorized
Please use this as a checklist guide and bring all relevant information with you as we cannot be sure if and when the Australian Tax Office Portal will have these details available. INCOME Income Statements (PAYG Payment Summaries) Lump Sum and Termination Payment...
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