Cents per kilometre deduction for car expenses
2023 income year The ATO has proposed for individual taxpayers that use the cents per kilometre method when calculating tax deductions for their work-related car expenses, that the rate per kilometre for the income year starting 1 July 2022 (the 2023 income year) will be 75 cents per kilometre. This is an increase from the […]
Fringe Benefits Tax exemption
New FBT retraining and reskilling exemption available Recent legislative amendments mean that employers who provide training or education to redundant (or soon to be redundant employees) may now be exempt from fringe benefits tax (‘FBT’). The ATO has reminded eligible employers that they can apply the exemption to retraining and reskilling benefits provided on or […]
Single Touch Payroll (STP) Phase 2 reporting
Learn what STP Phase 2 means for you Single Touch Payroll (STP) Phase 2 reporting starts 1 January 2022. If you employ staff, you’ll need to be ready for this change. New guidelines that explain the changes are now available to help. STP Phase 2 reporting means changes to the way you report amounts paid to […]
Super changes from 1 July 2021
Super Guarantee Charge set to rise to 10% from 1 July 2021 Consider: How does this affect salary packages? Need to ensure our employer clients update their payroll details Likely result is any pay increases will fund the increased SGC so less of that increase will be in take home earnings Concessional Super Cap rising to $27,500 Catch up rule […]
Real estate insight from Charlie Ball, Elberton Property
Rapid change gives rise to new breed of real estate agents Omnis Real Estate’s Managing Director Justin Flavel CPA talks with Licensed Property Valuer and Developer, Charlie Ball, from Elberton Property in Subiaco, Perth. Elberton Property is a private property development and project management business founded in 2006 by Charlie Ball. Infilling development sites within […]
Positive business change
Knowing the actions that deliver the best results You need a core transformation strategy in place to effectively kick-start the evolution of your business. This means having a clear vision, setting the right goals, and taking positive action. To put the right impetus and drive behind this core strategy, you need to put some careful […]
