Log into Accountancy Group

helen

Business news and views from Accountancy Group

About Helen Tsirmiris

This author has not yet filled in any details.
So far Helen Tsirmiris has created 70 blog entries.

Pandemic Leave Disaster Payments rules change

The rules for the Pandemic Leave Disaster Payment, the payment accessible to those who have lost work because they have had to self-isolate with COVID-19, or are caring for someone who contracted it, changed on 18 January 2022.The new rules change the definition of a close contact in line with […]

By |16 February, 2022|COVID-19|Comments Off on Pandemic Leave Disaster Payments rules change

Cash injection for struggling businesses

Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and WA.

New South Wales

The NSW Small Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly payroll, up to a maximum of $5,000 per week […]

By |16 February, 2022|Business|Comments Off on Cash injection for struggling businesses

PCR and RAT tests to be tax deductible, FBT free

The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits tax (FBT) for employers if purchased for work purposes.There has been confusion over the tax treatment of RAT tests with the Prime Minister stating for some time that […]

By |16 February, 2022|Tax|Comments Off on PCR and RAT tests to be tax deductible, FBT free

Professional Services Firm Profits Guidance Finalised

The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022.

The ATO’s guidance uses a series of factors to determine the level of risk associated with profits generated by a professional services firm and how they flow through to individual practitioners and […]

By |16 February, 2022|Business|Comments Off on Professional Services Firm Profits Guidance Finalised

Year of the Tiger: Roaring or Bellowing?

The 2022 Lunar New Year, Year of the Tiger, is courage and bravery. It is the year to drive out evil and one of momentum and change. The message; walk boldly with courage. And it seems the Reserve Bank Governor is aligned with this sentiment.

The Tiger economyAt a recent speech […]

By |16 February, 2022|Business|Comments Off on Year of the Tiger: Roaring or Bellowing?

2022: The year ahead

2021 was to be the year we returned to a post-COVID normal however the pandemic has fundamentally changed the way many of us operate in our personal and work lives. Here is some of what we can expect in 2022:Federal ElectionThe Federal election will be held between March and May […]

By |8 December, 2021|Business|Comments Off on 2022: The year ahead

The ‘Backpacker Tax’ and the High Court

The High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact.Since 2017, the ‘backpacker tax’ has taxed the first dollar of income a backpacker earns in Australia – regardless of their residency status – at the working holiday maker tax rate of 15% up to: 

$37,000 […]

By |8 December, 2021|Tax|Comments Off on The ‘Backpacker Tax’ and the High Court

The top Christmas tax questions

Every year, we are asked about the tax impact of various Christmas or holiday related gestures. Here are our top issues:

Staff gifts

The key to Christmas presents for your team is to keep the gift spontaneous, ad hoc, and from a tax perspective, below $300 per person. $300 is the minor […]

By |8 December, 2021|Tax|Comments Off on The top Christmas tax questions

If Santa was an Australian tax resident

A lighter look at the complexity of Australian taxation laws and the year that has been.

Merry Christmas

Our office will be closing Wednesday, 22 December 2021 at 5pm and re-opening Monday, 10 January 2021 at 9am.The Directors and Staff of Accountancy Group wish you a Merry Christmas and a happy and safe […]

By |8 December, 2021|Tax|Comments Off on If Santa was an Australian tax resident

Overseas gifts and loans in the spotlight

The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes and arrangements designed specifically to circumvent Australian tax laws. In general, Australian-resident taxpayers need to declare their worldwide income in their Australian tax return. Some schemes however disguise offshore capital […]

By |23 November, 2021|Tax|Comments Off on Overseas gifts and loans in the spotlight
Malcare WordPress Security