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Category: Company Tax

Tax Update – February 2021

15/02/2021
| No Comments
| Company Tax
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Jobmaker Jobkeeper extension 2 Accelerated depreciation Tax treatment of Victorian business grants Varying your PAYG Instalments Trading stock taken for private use Property sales and ATO data matching Online sales data matching Vehicle registration data matching ATO prosecutions Insolvency reforms $10,000+ cash transactions   COVID-19 measures JobMaker hiring credit The JobMaker Hiring Credit scheme (“JobMaker”)…

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Posted in Company Tax

Tax Update – November 2020

20/11/2020
| No Comments
| Company Tax, Personal Income Tax, Superannuation
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Budget measures now law Jobkeeper overpayments New PAYG Withholding rates Single Touch Payroll – having problems? Need an STP exemption? Shareholder loans Foreign investment in real estate Varying your PAYG Instalment Small business CGT concessions Closing a small business Update your ABN details Changing business structure Paying superannuation to your workers     Budget measures…

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Posted in Company Tax, Personal Income Tax, Superannuation

Budget 2020-2021 Tax Update

11/10/2020
| No Comments
| Company Tax, Personal Income Tax
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2020–21 Special Budget Edition   A big spending Budget that is all about jobs On Tuesday 6 October, the Treasurer, The Hon Josh Frydenberg MP, delivered the delayed 2020­–21 Federal Budget, his second Budget. How times change. In April last year, Mr Frydenberg delivered a Budget that was forecast to produce a surplus. Now, thanks…

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Posted in Company Tax, Personal Income Tax

Tax Update – September 2020

16/09/2020
| No Comments
| Company Tax, Personal Income Tax
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Changes to Jobkeeper It’s tax time Instant asset write off Accelerated depreciation Restructuring a small business Bushfire relief payments Director penalties Tax losses Personal services income Home office expenses Government grants Scammers   Changes to JobKeeper Government has recently announced a number of changes to JobKeeper. The scheme will continue for an additional 6 months…

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Posted in Company Tax, Personal Income Tax

Tax Update – February 2020

19/02/2020
| No Comments
| Company Tax, Fringe Benefits Tax, GST, Personal Income Tax, Superannuation
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Bushfire relief – how the ATO can help ATO looking at your lifestyle Trading stock taken for private use When labour costs might not be deductible Car parking fringe benefits Tip-off to keep the competition fair SMS scams Compensation for ATO admin bungles Super guarantee changes Introduction of Director Identification Numbers Jail for GST fraud…

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Posted in Company Tax, Fringe Benefits Tax, GST, Personal Income Tax, Superannuation

Tax Update – November 2019

27/11/2019
| No Comments
| Company Tax, Superannuation
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In This Issue – ATO supporting small business – Have you missed the STP start date? – Get your PAYG Withholding obligations right – Are you changing your business structure? – Working out if you have to pay super – ATO disclosure of business tax debts – Are you holding vacant land? – The end…

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Posted in Company Tax, Superannuation

Tax Update – September 2019

20/09/2019
| No Comments
| Company Tax, Personal Income Tax, Superannuation
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Expanding accelerated depreciation Company losses Single touch payroll Small business tax offset Small business CGT concessions Business expenses Keeping records ATO focus areas Tax changes for individuals Low and middle income tax offset Downsizer contribution to super First home super saver scheme PAYG Summaries Assessable income Deductible expenses Rental property repairs vs improvements Residency Super…

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Posted in Company Tax, Personal Income Tax, Superannuation

Tax Update – February 2019

26/02/2019
| No Comments
| Company Tax, Fringe Benefits Tax, GST, Superannuation
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IN THIS ISSUE Motor vehicle expenses – how to get them right Disqualifying directors of phoenix companies Small business income tax offset Instant asset write off extended Taxable payments reporting extended Single touch payroll GST and property GST free sales FBT – Xmas parties and cars Rental property deductions for travel SMSF event based reporting…

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Posted in Company Tax, Fringe Benefits Tax, GST, Superannuation

Borrowing from your business – Division 7A explained.

04/12/2018
| No Comments
| Company Tax
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Borrowing from your business? Find out how you might be triggering the Division 7A rules  Are you a shareholder or associate of a private company? Does your company have a distributable surplus at the end of the income year? Do you borrow or use business assets for your personal use and enjoyment? If you answered yes…

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Posted in Company Tax

Tax Update – November 2018

29/11/2018
| No Comments
| Company Tax, Fringe Benefits Tax, GST
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IN THIS ISSUE Borrowing from your business Business cars for private use GST for importers Avoiding GST reporting errors Residential rental properties ATO and data analytics   Borrowing from your business? Find out how you might be triggering the Division 7A rules  Are you a shareholder or associate of a private company? Does your company have…

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Posted in Company Tax, Fringe Benefits Tax, GST
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Recent Posts

  • Tax Update – February 2021
  • Tax Update – November 2020
  • Budget 2020-2021 Tax Update
  • Tax Update – September 2020
  • Tax Update – April 2020

Categories

  • Company Tax
  • Fringe Benefits Tax
  • GST
  • Kovac Advisory
  • Personal Income Tax
  • Superannuation

About Us

The Kovac Advisory Group is an independent advisory group comprising of Accounting and Private Wealth. Our comprehensive process and active teamwork within the group allows us to gain a real understanding of the needs of our clients and provide them with proactive and personalised solutions in accounting, finance and wealth management.

Recent Posts

  • Tax Update – February 2021
  • Tax Update – November 2020
  • Budget 2020-2021 Tax Update
  • Tax Update – September 2020
  • Tax Update – April 2020

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  • Australian Taxation Office
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  • Australian Business Register

Contact Us

Level 3, 50 Market Street Melbourne, VIC, 3000

Phone: +61 3 9629 7211

Email: info@kovacadvisory.com.au

Website: www.kovacadvisory.com.au