Cryptocurrencies and tax
The ATO is on the warpath concerning cryptocurrencies. It wants taxpayers to ensure that gains and losses from cryptocurrencies are correctly treated in tax returns. However, the tax
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Video presentations of all things tax and super
From the Blog
Year End – Tax Deduction for Superannuation Contributions
There is some confusion about obtaining a tax deduction for superannuation contributions when year end approaches. This QuickTax video explains when a tax deduction is available.
[ Read More ]Capital Gains Tax Exemption for Foreign Investment
An Australian company investing in a foreign company can get a full or partial exemption from capital gains on disposal of shares in the foreign company. This QuickTax video gives a brief explanation.
[ Read More ]The problem with tax file numbers in emails
Emails are not a secure form of communication. Stringent rules surround the possible disclosure and misuse of tax file numbers. This QuickTax video discusses “The TFN Rule” released
[ Read More ]Superannuation contributions and penalties
Many employers are not aware that if paid late, superannuation contributions can increase to a cost that is multiples of the original amount.
[ Read More ]Paying Superannuation Contributions Late
Employers who do not pay the correct super for their employees may have to pay a superannuation charge which is made up of the shortfall amount, interest on that amount (currently 10%) and an
[ Read More ]Small Business Superannuation Clearing House – tax deductions
If you are an employer using the Small Business Superannuation Clearing House to make superannuation contributions on behalf of your employees, there is a tax issue of which you need to be aware.
[ Read More ]JobKeeper — 8 Steps for Enrolment
On 14 April 2020, the ATO released information that discussed an 8 step process for employers who wish to elect to receive JobKeeper payments. The 8 step process involves information passing
[ Read More ]JobKeeper — Steps for enrolling your eligible employees
Employers must confirm who are their eligible employees as part of the JobKeeper rules. On 14 April 2020, the ATO released information that discussed the steps in the process for employers who
[ Read More ]JobKeeper information from the ATO
On 14 April 2020, the ATO released its first piece of more detailed information about the JobKeeper payment. The information covers the process for enrolment by an employer and how
[ Read More ]COVID-19 Cash Flow Boost Example #3
In this video, John Jeffreys, Tax Counsel of Tax & Super Australia gives a third example of how the cash flow boost incentive operates. In this example the business lodges its BAS each month
[ Read More ]COVID-19 Cash Flow Boost Example #2
In this video, John Jeffreys, Tax Counsel of Tax & Super Australia gives a second example of how the cash flow boost operates in practice. In the example, the employer has PAYG withholdings
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