For some time now, the Building and Construction Industry has been required to lodge an annual Taxable Payments Annual Report (TPAR) with the Tax Office detailing which contractors they have paid, what their ABN is and how much they have paid them during the year. This measure was intended to catch out contractors who were not paying tax on their income.Continue reading
If your business isn’t up to date with your PAYG withholding obligations, you may not be entitled to claim any business related tax deductions.Continue reading
Christmas can present a tax headache in the New Year if you’re not aware of the Fringe Benefits Tax (FBT) Continue reading
Compiling documents to send to your accountant at the end of the financial year is not the most enjoyable task Continue reading
KEY POINTS Higher tax rates may apply to bank interest derived by a child Make it clear whose money it Continue reading
