With EOFY fast approaching, it’s best to reach out to us sooner rather than later to talk through deducting your work-related expenses correctly, and any steps you need to be aware of before 30 June.
More than 60,000 businesses haven’t complied with lodgement requirements under the Taxable payments reporting system for 2019–20. The TPRS is a black economy measure that helps the ATO identify contractors who don’t report or under-report income.
How can tradespeople go about streamlining their business and help set themselves up for 2021 with success?
Online services for business has been co-designed with business and makes it easier for you to interact with the ATO online to manage your tax and super obligations.
When it comes to lodging your individual tax return, Carrick Aland notes the important distinction between taxable income and assessable income.
If you work as a sales professional, find out what you can claim as deductions for expenses incurred as an employee in real estate.
If you work as a hairdresser or beauty therapist, find out what you can claim as deductions for expenses incurred as a salon employee.
For anyone in building and construction, cleaning, courier, road freight service, IT or security, if you’ve paid a tradie or other contractor for building and construction services in the last year, check if you need to lodge a Taxable Payments Annual Report (TPAR) by 28 August.
