Tax

From 1 July 2019, all employers will need to start complying with Single Touch Payroll, which has been introduced by the ATO to streamline payroll reporting.  STP commenced for employers of 20 or more employees as at 1 July 2018.   What is Single Touch Payroll?  When you complete your payroll, you will be reporting the payments […]

The measure announced in the 2019 Federal Budget to give medium-sized businesses (turnover greater than $10M but less than $50M) the ability to immediately deduct the cost of assets costing less than $30,000 is now law. The new Act also increases the current threshold for the instant asset write off for small businesses (turnover less […]

The Federal Treasurer, Mr Josh Frydenberg, handed down the 2019/20 Federal Budget at 7:30 pm (AEDT) on 2 April 2019. Mr Frydenberg said the Budget is ‘back in the black’, announcing a budget surplus of $7.1b, and forecasting continued surpluses into the future, building towards 1% of GDP with the aim to pay off Government […]

As the dust settles from another Federal Budget, there was an important takeaway that every small business needs to be aware of. The instant asset write off has been extended to 30 June 2019, giving small businesses another 12 months to take advantage of the scheme. Introduced as part of the 2015 budget, this allows small […]

On Tuesday 8 May 2018, the Federal Treasurer Mr Scott Morrison handed down the 2018-2019 budget. Whilst there was emphasis on bringing the budget back to surplus earlier than originally planned, as well as individual tax cuts, we have prepared a tax and superannuation brief to help break down all of the announcements and what […]

On 9 May 2017, the Australian Government announced that it was introducing a range of reforms to reduce the pressure on housing affordability for Australians, which would come into effect in the 2017-2018 Federal Budget. One of the reforms was the movement to no longer allow foreign tax residents exemption from capital gains tax (CGT) […]

From 1 July 2018, employers with 20 or more employees will need to start complying with Single Touch Payroll, which has been introduced by the ATO to streamline payroll reporting. What is Single Touch Payroll? When you complete your payroll, you will be reporting the payments made, tax withheld, allowances, deductions and super information for […]

The Australian Taxation Office (ATO) are continuing to invest more time in data matching and using the electronic resources they have available to confirm that tax declarations are valid. The importance of validating your tax deductions and having sufficient paperwork in place is becoming increasingly important. Nowadays, everything is filed electronically which means government agencies […]

They are the prestigious awards that are well-known in the industry. Ones that firms are eager to be recipients of because achievement is judged on client satisfaction and providing service excellence.  We are excited to announce that Allan Hall has made the finals for the third year running with our Partner, Scott Somerville selected as […]