Monthly Archives: May 2021

Budget 2021: What’s In It For Me?

The 2021 Federal Budget has been handed down by the Treasurer, for individuals the government has retained the low and middle income tax offset as well as the low income offset for the 2021-22 income year which will ensure that low and middle income earners won’t lose out in relation to tax refunds. Other than […]

2021 Federal Budget: Special Edition

1. PERSONAL TAXATION 1.1 Personal tax rates unchanged for 2021–2022 In the Budget, the Government did not announce any personal tax rates changes, having already brought forward the Stage 2 tax rates to 1 July 2020 in the October 2020 Budget. The Stage 3 tax changes will commence from 1 July 2024, as previously legislated. […]

JobKeeper: Compliance and Repayment

With the JobKeeper program officially coming to a close, the payment that has supported more than 3m workers as its height and around 1m in the most recent quarter has been consigned to history. Although it is gone, it should not be forgotten by businesses that claimed the payments as the ATO has signalled that […]

ATO Targeting Contractors

Contractors beware, with the ATO having now received the taxable payments annual report from more than 158,000 businesses for the 2019-20 income year, it is now data-matching this information with what has been reported in the tax returns of these contractors. This captures contractors that have performed services including couriering (including food delivery), cleaning, building […]

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