Are you paying payroll tax when you don’t need to?

Legitimate ways to avoid payroll tax in Victoria Congratulations.  If you’re reading this your business has hit – or will be close to hitting – the payroll tax threshold. Now I know you’re not going to be over the moon about leaking even more tax out of your small business.  But if you are paying … Read more

Something every Kiwi in Australia needs to know

I’ve sometimes thought that perhaps Australia needs to make a few things right with our trans-Tasman cousins. I’m sorry about the underarm incident. It’s embarrassing to think that we’d resort to cheating like that. And sorry that our recent cricketers show such embarrassing sportsmanship. Also, sorry for all those predictable sheep jokes, and for trying … Read more

ANZ Employee Share Plans

Are you an ANZ employee (or former employee) who has participated in an Employee Share Plan? You’ve come to the right place. We can assist you with working out the tax implications for all ANZ share plans including: ANZ Employee Share Offer (Previously known as $1000 Share Plan) (ESAP) ANZ Deferred Share Plan ANZ Share … Read more

5 reasons to feel better about your late tax returns

Over the last few years Beyond Accountancy has helped a lot of people get their tax affairs in order. This experience has taught us a lot, not only about how the ATO deals with late lodgments, but how it makes people feel. Generally, the feeling is one of stress or anxiety, and it can be … Read more

Changes to PAYG Instalments

If you lodge a tax return and you owe tax, you may be asked to pay PAYG instalments. PAYG instalments are down-payments towards your estimated future tax. Who has to pay PAYG instalments? You have to pay PAYG instalments if: have repeating income, e.g. rent, interest, dividends, employee share grants, business income (but not one-off … Read more

Claiming self-education expenses

The question of whether study expenses are tax deductible can be a complex one. Claiming a deduction under the “self-education” section of your tax return involves fitting into strict criteria, and deduction thresholds apply. Self-education deduction rules The following summary is from the ATO website: Self-education expenses You can claim a deduction for work related … Read more

Capital Gains Tax changes for foreign residents

The 50% CGT discount no longer applies to foreign residents who make a capital gain on taxable Australian property. This change became law on 29 June 2013. Foreign or temporary resident individuals must meet certain eligibility conditions to apply the CGT discount. From 8 May 2012, the application of the 50% CGT discount will depend … Read more

Private Health Insurance Rebate changes

If you have private health insurance, you may be eligible for the Private Health Insurance Rebate. The rebate is means tested against your single or family income (i.e. if you have a partner, the family income test applies to your combined income). Incomes and rebate percentages are summarised below: Single $88,000 or less $88,001 – … Read more

Are your contractors really contractors?

By Jarrod Rogers CPA This article should not be read as personal advice and does not apply to every situation. Should you need advice specific to your circumstances (employer or work) we invite you to become a client. Do you have an ABN? Tens of thousands of people do, and many of them legally should … Read more

HECS changes look likely

HECS (HELP) changes looking likely The government looks set to remove the HELP voluntary repayment bonus. While the changes have not gone through parliament, the bill has been introduced by the current government. It’s unlikely to be blocked by the opposition, because it was their idea in the first place. So it’s probably going to … Read more