December 2019 Newsletter

PAYG and deductions for payments to workers

The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019.

If the PAYG withholding rules require an amount to be withheld, to claim a deduction for most payments to a worker, a business taxpayer must:

November 2019 Newsletter

Super guarantee opt-out for high income earners now law

From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee ('SG') from some of their employers, to help them avoid unintentionally going over the concessional contributions cap.

October 2019 Newsletter

$30,000 instant asset write-off

The ATO is reminding businesses that are looking to expand or improve their business and thinking of buying new or second hand assets, that medium sized businesses with a turnover up to $50 million (but at least $10 million) are eligible for the instant asset write-off.

This now applies to assets that cost up to $30,000 and which were purchased and first used or installed ready for use from 7:30pm (AEDT) on 2 April 2019 to 30 June 2020.

September 2019 Newsletter

"Outrageous" deductions rejected


The ATO has published some of the most unusual claims that they disallowed last financial year.

Nearly 700,000 taxpayers claimed almost $2 billion of ‘other’ expenses, but the ATO's systematic review of claims had found, and disallowed, some very unusual expenses, including:

·         claims for Lego sets bought as gifts for children, and sporting equipment or membership fees for their child athletes;

July 2019 Newsletter

July 2019


‘Cash in hand’ payments to workers no longer tax deductible

The ATO has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible.

‘Cash in hand’ refers to cash payments to employees that do not comply with pay as you go ('PAYG') withholding obligations.

June 2019 Newsletter

Single Touch Payroll Update

Employers with 19 or fewer employees are required to start reporting through Single Touch Payroll (‘STP’) from 1 July 2019.

The ATO will be working with employers to support them as they transition to STP, including allowing small employers to start reporting any time from 1 July to 30 September (and the ATO will also be "generous" in granting deferrals to small employers who need more time to start STP reporting).

March 2019 Newsletter

Changes to the small business instant asset write-off

Tax scammer alert

Non-compliant payments to workers

What’s new for Australian business

April 2018 Newsletter

New superannuation rates and thresholds released 

$20,000 Small Business Write Off

The write-off threshold of $20,000 will cease on 3rd June 2018.

If you buy an asset and it costs less than $20,000, you can immediately deduct the business portion in your tax return. 

The $20,000 threshold applied from 12th May 2015 and will reduce to $1000 from 1st July 2018.

What Your Business Needs to Know About Single Touch Payroll

From 1st July 2018, Australian businesses with more than 20 employees on the payroll will be required to use Single Touch Payroll.

Contact us for more information.