by Karen McDonald | Jun 27, 2024 | Accounting & Tax, ATO
From 1 July 2024, the Australian Government’s updated individual income tax rates take effect, reflecting the Stage Three tax reforms. These changes aim to simplify the tax system and provide relief for a broad range of income earners. This page outlines the new tax...
by Karen McDonald | Dec 24, 2023 | Accounting & Tax, ATO
Step 1 – Get My Gov ID It is an absolute pain to set up MyGovID.  I hate it! Don’t start this process when you are short of time or a bit stressed – it just won’t work – I know first-hand! The replacement for AusKey is MyGovID.  It is a business level Government...
by Karen McDonald | Dec 24, 2023 | Accounting & Tax, ATO
From 5 April 2022, Directors of new companies must have a director’s ID before becoming the director of a company. A Director’s ID is a unique identifier that a director applies for once and keeps forever. This is to help prevent false and fraudulent director...
by Karen McDonald | Aug 7, 2023 | Accounting & Tax, ATO, Small Business
Introduction In recent times, we have noticed the Australian Taxation Office (ATO) has begun rigorously following up late or non-payments of superannuation. Â This has resulted in notices being generated for employers and fines being applied. This fact Sheet is to...
by Karen McDonald | Jun 16, 2019 | Accounting & Tax, ATO
From 1 July 2019, the HECS study loan repayment income threshold is being lowered to $45,881 from $51,957. This is one of the more sneaky tax changes as it has not been published well at all.  To make it worse it affect many people early in their career who are also...
by Karen McDonald | Jan 28, 2019 | ATO, Small Business
Do you employ staff with HECS Debts …………Beware of their traps! We have had a number of employed professionals stung by the HECS repayment trap recently! These are the traps to lookout for … A professional earning under $51,957 has NO HECS to pay… now that is a...
