Monthly Archives: April 2021

Life Insurance in Super: Costs On The Way Up?

Having insurance through super can be a cost effective way of protecting you and your loved ones in the event of an unfortunate occurrence. However, APRA has noted new and concerning developments which may see the costs of these insurances go up. According to trends analysis, APRA has noted the current situation is similar to […]

Travelling For Work: What’s Deductible?

Business travel and face-to-face meetings will soon be back on the agenda with the world shifting past pandemic mode. With the return of business travel comes the age old question of what is deductible when travelling for work? The ATO has gotten on the front foot by releasing a draft ruling outlining the circumstances in […]

ATO Reminder: Lodge Your TPAR

The Taxable Payments Annual Report (TPAR) was designed to supress, if not outright eliminate the “black economy” by requiring businesses providing various services to lodge a report containing details of payments made to contractors or subcontractors. This year, the ATO has identified around 60,000 businesses that have not compiled with the lodgment requirements. It notes […]

Tax Implications of Having More Than One Job

If you have more than one job, whether it be casual, contract or some other arrangement, you will need to be careful to avoid an end of financial year tax debt. The debt usually arises in situations where individuals with more than one job claim the tax-free threshold in relation to all the employers, resulting […]

Increase in Statutory Demand Threshold for Debts?

If you run a small business or any business for that matter, you may be interested in the current government consultation to increase the statutory demand threshold for debts. Currently, the threshold at which a creditor company can make a formal request requiring a debtor company to pay a debt (ie statutory demand) is $2,000. […]

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