Common problem areas that people feel obliged to report include suspected tax evasion, illegal phoenix activity, and the black economy. More than half of all tip-offs received were for suspected under reporting of income or about the cash economy, for example businesses demanding cash from customers or paying their workers cash in hand. The effectiveness…
Category: Conflict management
Single Touch Payroll Exemption For Directors and Family Members
Single touch payroll (STP) was extended to cover all employers on 1 July 2019. For directors of their own company or for family businesses employing family members, there are some practical problems with STP – sometimes they don’t know exactly what their salary or wages are for the year until just after the end of…
Super, Insurance and Exit Fees: The 1 July changes
Insurance inside your fund Up until 30 June 2019, superannuation providers were required to provide members with appropriate life and total and permanent disability (TPD) insurance inside superannuation on an ‘opt out’ basis. That is, the insurance was automatically put into place when you became a member of the fund. The problem is that for…
Work related deductions
Last financial year, over 8.8 million taxpayers claimed $21.98 billion in deductions for work related expenses. It’s an area under intense review by the ATO. If you claim work-related deductions, it’s important to ensure that you are able to substantiate any claim you make. To claim a deduction, you need to have incurred the…
Em’s Story
I am a very lucky woman with a fulfilling and rewarding life. That is something that many people who know of me but don’t know me personally struggle to believe. If I had been told in early July last year what would happen at the end of the month, I too would have struggled to…