CGT main residence exemption is removed from 30 June 2020 for Foreign Residents
January 21, 2020
Foreign residents will be no longer claim the CGT main residence exemption upon disposal from 30 June 2020. The new legislation has removed the main residence exemption for foreign residents...
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How to lodge STP over holiday period?
December 17, 2019
Many businesses will be shut down during the holiday period, especially in December and January. But when you report through Single Touch Payroll (STP) you need to lodge your payroll informa...
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ATO urges taxpayers to report foreign income this tax time
October 11, 2019
The ATO has warned taxpayers that it holds data on more than $100 billion held in offshore accounts and uses sophisticated analyses to identify the taxpayers with unreported foreign income.
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Stamp Duties, Land Tax and Payroll Tax Changes from 1 July 2019 in Victoria
June 20, 2019
The State Taxation Acts Amendment Act 2019 received Royal Assent yesterday and introduces a number of changes to duties, land tax, payroll tax and land valuations, including those flagg...
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Low and Middle Income Tax Offset (LMITO)
June 6, 2019
Low and Middle Income Tax Offset (LMITO) amount and availability have been changed for 2019 financial year.
Please note the following guidance and contact us if you have any questions:
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The taxable payments reporting system for more industries
March 20, 2019
From the 2019–20 financial year onwards, businesses providing road freight, information technology (IT), security, investigation or surveillance services are legislated to report contracto...
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Single Touch Payroll (STP) Reporting starts from 1 July 2019
March 17, 2019
What is Single Touch Payroll (STP)?
STP is a reporting system to send PAYG withholding tax and Superannuation details to ATO from the STP-enabled software to ATO each time when you pay yo...
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ATO warns against deferring or avoiding withholding tax
January 22, 2019
The ATO will be closely scrutinising certain cross-border funding arrangements that seek to avoid payment of withholding tax.
The arrangements typically provide a deduction in Australia ...
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2019 January tax news
January 22, 2019
There are some recent changes in regards to the tax and super and may affect Gavin Ma & Co clients:
Tax debt information disclosure — a 2016-17 MYEFO measure allowing the ATO to d...
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How Can an Accountant Help with Your Mortgage Application?
June 5, 2018
Mortgages and various other kinds of loans can be very complex to apply for. For this reason, professional assistance is often required to ensure a smooth and successful process. The best mo...
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