The ATO has changed the way you claim work from home (WFH) deductions, starting from 1 July 2022. The Practical Compliance Guideline (PCG 2023/1) was finalised on 16 February 2023. The Guideline outlines the ATO’s post-COVID 19 approach to WFH tax deductions. Prior to...
Nexis
Your relationship with your accountant should be one of the best you have
It’s Valentine’s Day, so you might be celebrating the relationships in your life: with your significant other, your friends, or your fluffy companion. But you might be overlooking other important connections, like your business relationships. Such as with your...
Everything small businesses need to know about claiming 120% deductions at tax time
The government is helping small and medium enterprises with an aggregated turnover of less than $50 million to reinvigorate their businesses after the effects of the pandemic. Announced in the 2022-23 Budget and still subject to law, the proposed investment boosts...
Here’s everything you need to know about the proposed changes to WFH deductions
The ATO is changing the way you claim work-from-home (WFH) deductions from the start of the 2022/23 financial year. The Practical Compliance Guideline (PCG 2022/D4) is currently in draft but was released for comment on 2 November and is open until 30 November. The...
There may be tax implications to the season’s festivities
‘Tis the season, but before you get carried away with the presents and Christmas parties, there may be some tax implications when it comes to the season’s frivolity. Are you aware that Fringe Tax Benefits (FBT) may actually apply to the fun you’ll have at your...
COVID-19 Tests for work are tax deductible
Throughout the COVID-19 pandemic, we have collectively adapted to a different way of life. Some of the biggest changes we have had to get across have been in the workplace – how we work, where we work, and when it comes to tax time, what we can and can’t claim. In all...
Get Your Accounts Ready for Tax Preparation Webinar
https://player.vimeo.com/video/729850351?h=2e4d2f0b63&dnt=1&app_id=122963 At a loss for what documents, statements or receipts you need to provide for your tax return? In this Nexis Business Chat, Jacklyn goes through what documents are needed to prepare...
Year-End Payroll Finalisation Webinar
https://player.vimeo.com/video/727999769?h=1346be5df8&dnt=1&app_id=122963 Get ready for the end of the financial year and prepare your payroll for STP finalisation with this Nexis Business Chat. Michael and Fiona cover what you need to check, things to be...
Superannuation Guarantee Changes from 1 July 2022
From 1 July 2021, superannuation guarantee changes were to increase incrementally each year to reach 12% by the 1 July 2027 – 30 June 2028 financial year. This means that on 1 July 2022, the SG changes will apply to your business for the 2022-23 financial year,...
Business Chat Webinars
Stay up to date with our upcoming webinars. Year-End Payroll Finalisation 30 June, 10am - 11am Get ready for the end of the financial year and prepare your payroll for STP finalisation with this Nexis Business Chat. Michael and Fiona will cover what you need to check,...