Beware of scams
Scamwatch is warning of the cost of scams Australian consumers, businesses and the economy lose hundreds of millions of dollars each year and suffer serious emotional harm to victims and their families as a result of scams. Cryptocurrency scams are the most ‘popular’ type of investment scams, representing over 50% of losses. Often the initial […]
Extension on Division 7A loan repayments
Extension of time to make repayments on Division 7A loans To offer more support due to the ongoing effects of COVID-19, an extension of the repayment period is now available. It is available to those who were unable to make their MYRs by the end of the lender’s 2020/21 income year (generally 30 June). The […]
Super guarantee contribution due
Super guarantee contribution due date for June 2021 quarter The due date for employers to make super guarantee contributions for their employees for the June 2021 quarter is 28 July 2021. Note that the super guarantee rate in relation to salary and wages paid on or before 30 June 2021 is 9.5%, but the super […]
2020/21 Individual Tax Return Checklist
Tax saving strategies prior to 1 July 2021 A strategy often used to reduce taxable income (and, in turn, tax payable) in an income year is to bring forward any expected or planned deductible expenditure from a later income year. However, in light of the continued impact of the COVID-19 pandemic, any tax planning for […]
Family assistance payments
Child Care Subsidy and Family Tax Benefit payments deadline The ATO has reminded individuals receiving Child Care Subsidy and Family Tax Benefit payments from Services Australia that they and their partners must lodge their 2019/20 Individual tax returns by 30 June 2021. Lodgement deferrals with the ATO do not alter this requirement. Services Australia needs […]
JobKeeper fraud criminal conviction
First criminal conviction for JobKeeper fraud A person claiming to be a sole trader was convicted of three counts of making a false and misleading statement to the Commissioner of Taxation, in order to receive $6,000 in JobKeeper payments to which he was not entitled. He was not operating a genuine business and he had […]
Proposed FBT exemption — retraining and reskilling
The government has announced it will introduce an exemption from FBT It will apply to retraining and reskilling benefits provided by employers to redundant, or soon to be redundant, employees where the benefits may not be related to their current employment. It is proposed that this exemption will not apply to: retraining provided under a […]
OMNIBUSiness Tax Planning Edition
May’s Federal Budget has been postponed but it’s still tax time. We hope that you’re well and starting to develop strategies for your business to emerge from the COVID-19 coronavirus lockdowns reinvigorated! Many of our clients have availed themselves of the opportunity of asking us to perform a wider range of duties over recent months […]
Omnis Group gives a hand with hampers for homelessness
Can your generosity help make a difference to homeless and vulnerable people this Christmas? St Patrick’s Community Support Hampers Omnis Group in Perth have just increased our giving in time for Christmas by delivering 30 hampers to St Patrick’s Community Support in Fremantle. St Patrick’s Community Support Centre is Fremantle’s key organisation for homeless and […]
July 2019 ATO impersonation scam report
ATO impersonation scam update Unbelievably, scammers are still successfully bilking Australians out of tens of thousands of dollars, as a recent ATO scam report shows. According to the July 2019 ATO impersonation scam report: 6,179 online scam reports were received in the first month of their new online reporting form going live; 6,645 phone scam […]
