Capitaleyes Latest Accounting News

The government is finally delivering on its budget promise to remove the $450 per month superannuation guarantee threshold.
Read More

One changes in this area.
Read More

The government’s long-slated “flexibility in superannuation” legislation is finally law.
Read More

The revenue thresholds defining small, medium and large charities are set to be raised, saving over 5,000 charities the need to produce reviewed or audited financial statements.
Read More

Under the COVID-19 early release measures, individuals could apply to have up to $10,000 of their super released during the 2019–2020 financial year and another $10,000 released between 1 July and 31 December 2020. 
Read More

The ATO has long held firm on the principle that rent payments (being a form of occupancy costs) are generally outgoings “of a private or domestic nature” and therefore not deductible, even where part of the rented home is used as a home office. However, it has been accepted that in some circumstances, a rent deduction may be claimed if a part of the home is used exclusively for income-producing activities and there is no alternative place of business provided by the taxpayer’s employer.
Read More

Australian employers will now have two more months to transition to the second phase of Single Touch Payroll as the ATO announces a blanket deferral in light of the current business environment.
Read More

  Most new employees are eligible to choose the super fund you pay their super guarantee contributions to.  
Read More

  The latest round of employment data shows the unemployment rate fell by 0.3 of a percentage point to 4.6 per cent through July. But the 12-year low might not signify labour market strength, experts say.  
Read More

Since its introduction, a number of taxpayers have fallen foul of the ATO in its administration of the research and development (R&D) tax incentive scheme under the Income Tax Assessment Act 1997 (Cth) (ITAA) for failing to have claimed an offset for an activity that strictly complies with the relevant tests.  
Read More

  Businesses that didn’t previously receive JobKeeper will now be eligible for loans of up to $5 million under the scheme, which will be made available through select lenders until 31 December.  
Read More

Adding a slice of interesting trivia is a great way to offer something or those clients who don't want to read, and September is no exception.  What we add is great for trivia competitions, especially if you get to draft the questions.            
Read More