Snapshot of the ALP Key Tax Policies
Lodgement rates and thresholds guide
Single Touch Payroll
Single Touch Payroll (STP) is changing the way employers report their tax and super information to the ATO. If you have payroll software, all you'll need to do is update it once it has been 'single touch payroll' enabled.
You will then begin reporting the following:
- payments to employees such as salary and wages
- pay as you go (PAYG) withholding
- super information
The way you pay your employees won't change however you must send the ATO the information at the same time as you pay your employees. STP has already started and will be mandatory for all employers from 1 July 2019.
- Covid-19 payments and some issues for companies and trusts.
- Covid-19 and trust liquidity issues.
- Where you stand with vehicles and the boosted instant asset write off.
- Covid-19 and SMSF rental relief.
- The JobKeeper scheme gets an update, plus an extension.
- Has your super fund got you covered for insurance? With COVID-19, maybe not.
- Rental property: Tax approach adjusts for COVID-19.
- Claiming a deduction for transport expenses when carrying bulky equipment.
- Tax Return Tips.
- Instant asset write off extended to 31 December.
- The realities of insuring against cyber crime.
- Remote AGMs and documents signing allowed.
- Varying PAYG instalments because of COVID-19.
- Last-minute tax planning tactics.
- Expatriates: Part-year resident or non-resident for tax purposes?
- COVID-19 and residential rental property claims.
- Concerns on property development and SMSFs.
- Laws on bankruptcy changed to help cope with COVID-19.
- Answers to COVID-19 work-from-home expense questions and CGT concerns.
- Your business and the JobKeeper scheme.
- Alternative turnover test for JobKeeper released.
- COVID-19 instant asset write off and accelerated depreciation.
- Early release from super a relief, but comes with risks.
- Here's what attracts the ATO's attention about luxury car tax.
As always, please feel free to give us a call on (07) 54391600 to have a chat.