Capitaleyes Latest Accounting News

  The Australian economy is predicted to grow “slower than previously thought” over the next 40 years, as the nation grapples with a tax mix that relies heavily on income tax despite an ageing population.  
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  This year will be the first indexation increase of the $1.6 million pension limit.  
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  Employers have been given additional time to complete their Single Touch Payroll finalisation declaration this year as the ATO recognises the ongoing impacts of COVID-19.  
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  The Tax Office has extended relief for taxpayers who are unable to meet the minimum yearly repayments on Division 7A loans due to COVID-19.  
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  The ATO provides information on a large number of business related topics, issues, rules and regulations.  We hope this article will help quickly you keep up to date.  
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  Often watching a short video is a quicker way to understand what can otherwise be quite confusing. The following titles have just been added to our website and can be accessed at any time and by anyone.  
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  Small employers with closely held payees have been exempt from reporting through single touch payroll (STP).  
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  The Tax Office has urged advisers and taxpayers alike to heed its guidance on accounting for cryptocurrency come tax time, when it will be looking to ensure that all capital gains events are accurately reported — not just gains.  
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  With the end of the financial year approaching there may be some valuable opportunities worth discussing for you or your family, depending on your personal circumstances.  
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  The federal budget 2021–22 was handed down by the Treasurer, the Hon Josh Frydenberg MP, on 11 May 2021. This article considers the key issues as we wait for the legislative amendments to give effect to the budget measures.  
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  Business leaders should turn their attention to how they plan on managing the government’s increase to the superannuation guarantee, set to come into effect from 1 July, to avoid penalties, says one tax expert.  
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  As tax time looms, the ATO has pointed to four key ineligible work-from-home claims it will be watching closely as taxpayers look to make the most of flexible working arrangements.  
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