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Expert Tax

Phone: +61 449 952 855

Address: 504, 101 Overton Road 3027

Website: http://expert-tax.com.au

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25.01.2022 PAYG Instalments A PAYG instalment is an estimate only made by the Australian Taxation Office based on your previous years assessment and is essentially a prepayment of the tax liability. Click on below link to read more about PAYG Instalments -... https://expert-tax.com.au/payg-instalments/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance.

25.01.2022 ATTENTION EMPLOYERS Your next super guarantee payments are due to your employees super funds by Tuesday 28 January 2020. If youre affected by bush fires and need support, contact Australian Taxation Office (ATO) to discuss your situation and the options available on 1800806218. ... Expert Tax can assist in managing tax and superannuation affairs of your business. Contact us on 0449 952 855 or 1300 869 829 for assistance.

23.01.2022 #COVID-19 STIMULUS PACKAGE Centrelink $750: Who gets it, when it arrives, what to do if it doesnt arrive? From 31st March 2020, approximately 6.5 million Australians will find themselves $750 richer as the government frantically tries to stimulate an economy crippled by the coronavirus pandemic.... Click on below link for more information - https://expert-tax.com.au/centrelink-750-who-gets-it-when-/ #covid-19 #ato #tax #covid19stimuluspackage #coronavirus

23.01.2022 Converting your Home into a Residential Rental Property? If you turn your home into a residential rental property on or after 1 July 2017, you cannot claim a deduction for the decline in value for depreciating assets that were already in your home. You can only claim a deduction for the decline in value for any new depreciating assets that you purchase for your residential rental property. You can also claim depreciation for Capital Works i.e. building. ... Note a depreciation schedule must be provided to your tax agent at tax time. Depreciation schedule is prepared by licensed Quantity Surveyor. Expert Tax has experience in managing complex returns involving rental properties. Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #rentalproperty #tax #taxreturns #ATO #rent #investmentproperty #depreciationschedule

21.01.2022 Are you dealing with businesses and need to check their info? Use ATOs ABN lookup tool to check if theyre registered with ATO and see their business details such as ABN status, entity type, location and if theyre registered for GST. A tax invoice without a valid ABN may be invalid for substantiation purpose. ... As a business owner you could be paying GST when you are not required to pay GST to a non-GST registered entity. ABN look up tool can reveal this information. Expert Tax can guide you in managing tax compliance. Contact us on 0449 952 855 or 1300 869 829 for further assistance.

21.01.2022 Expert Tax solicits reviews from its clients and general public. We hope that our clients have received a valuable advice and service from us and general public benefits from our regular tax tips and updates. Customer and public reviews encourage us to keep bringing regular tips and updates. ... We would appreciate if you can spare few minutes of your valuable time and rate our services and leave a review on Google. Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance on tax related matters.

21.01.2022 #COVIDUPDATES CASH FLOW BOOST TAX CONSEQUENCES You do not need to pay tax on the amount of the cash flow boost. ... However, if you distribute the cash flow boost from the business to another entity (for example, making a trust distribution or paying a dividend to shareholders) there may be tax consequences for the recipient. The amounts do not need to be paid back when your cash flow improves. However, if you have been paid more cash flow boosts than you are entitled to you will need to repay the excess. The boost is not subject to GST as you are not making or agreeing to make a supply for the payment. You will still be entitled to a deduction for PAYG withholding paid. There is no effect on tax paid by employees in respect of their salary and wages. Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance.

19.01.2022 #COVIDCASHFLOWBOOST Cash flow boosts have started to be delivered to eligible business and not-for-profit organisations. If youre looking to access the boost for your business, youll need to make sure you lodge your March 2020 monthly or quarterly activity statement.... Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #covid19 #ato #cashflowboost #gst

19.01.2022 #COVID19CASHFLOWBOOST Cash Flow Boost Payment 1 Received Cash Flow Boost Payment 1? ... If not, then ensure March 2020 BAS is lodged before 28th April 2020. ATO will start processing 1st Payment of Cash Flow Boost after 28th April 2020 onward provided BAS return is lodged by 28th April 2020. Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance with lodgement of BAS return. #covid19 #stimuluspackage #gst #ato #tax #jobkeeperpayment #BAS

19.01.2022 ATTENTION - Business Owners registered for GST, Taxi Drivers, Individuals part of Ride sharing platform such as Uber, Ola and DIDI. Business Activity Statement (BAS) for the period January 2020 to March 2020 is due for lodgement by 28th April 2020. If you paid salary/wages between 1st January 2020 and 31st March 2020, then due date for payment of superannuation guarantee is 28th April 2020.... Note - ATO penalties apply for late payment or non-payment of superannuation liabilities. Also note, all pay runs are now supposed to be reported via Single Touch Payroll (STP). ATO may impose penalties for late lodgement of BAS returns. To access the cash flow boost, you must lodge your activity statement. The minimum payment [$10,000] will be applied to the entities first lodgement. The initial cash flow boosts will be delivered as credits in the activity statement system from the Governments announced date of 28 April 2020. Contact Expert Tax on 0449 952 855 or 1300 869 829 to book an appointment for lodgement of BAS Return. #BASRETURNS #ATO #TAX #TAXAGENT #ACCOUNTANT #TAXACCOUNTANT #GST #UBER

18.01.2022 Accessing COVID-19 Cash Flow Boost Legislation has been enacted to provide temporary cash flow support to small and medium businesses and not-for-profit organisations that employ staff during the economic downturn associated with COVID-19 (novel coronavirus). This will be done through two sets of cash flow boosts delivered from 28 April 2020 to support employers to retain employees.... Click on below link to read more. https://expert-tax.com.au/accessing-covid-19-cash-flow-boo/ #ato #tax #covid19stimuluspackage #covid19 #paygw

17.01.2022 SCAM ALERT Watch out for scam text messages impersonating the Government with advice on testing for COVID-19. These messages try to trick you into installing software that steals your banking details. Delete and do not click the link! #ato #scam #scamalert #atoscam #taxscam #gst #tax #gstscam

17.01.2022 Taxable payments annual report (TPAR) need to be lodged by 28th August 2020 if you have hired contractors and your business is part of following industries Building and construction Cleaning Courier or road freight... IT Security, Investigation, and surveillance. Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance with lodgement of TPAR. #TPAR #ATO #GST #TAX #subcontractors

17.01.2022 Contractors and Consultants do you provide any of these services? 1. Building and construction 2. Cleaning 3. Courier ... 4. Delivery and road freight 5. Information technology 6. Security, investigation, or surveillance Every year, businesses operating in above industries report payments they make to sub-contractors as part of the taxable payments reporting system. You would need to report payments received in your tax return if you worked as a sub-contractor. Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance on tax related matters. #ato #gst #incometax #tax #taxreturns #taxreturn #subcontractors #subcontractor

16.01.2022 Instant asset write-off for eligible businesses Changes from 12 March 2020 From 12 March 2020 until 30 June 2020 the instant asset write-off:... 1. threshold is $150,000 (up from $30,000) 2.eligibility range covers businesses with an aggregated turnover of less than $500 million (up from $50 million). Click on below link to read more. https://expert-tax.com.au/instant-asset-write-off-for-elig/ #smallbusinessstimuluspackage #ato #tax #gst #covid19stimuluspackage

15.01.2022 Have a Study Loan? Declare your study loan. If you have a student loan, make sure you let your employer know. If you have a study loan and your repayment income is above ATO prescribed repayment income threshold, a compulsory repayment will be required at the time of lodgement of your personal tax return. ... Its better you inform your employer, so your employer knows to withhold additional amounts from your pay to cover your compulsory repayments. Just tick yes at question 10 on your TFN declaration form. Otherwise you might be stung by a huge tax bill at tax time. Expert Tax can assist in filling out TFN declaration form. Contact us on 0449 952 855 or 1300 869 829 for further assistance.

15.01.2022 Applying for Early Superannuation Access when not eligible: COVID-19 You need to check the eligibility criteria carefully before you apply for COVID-19 early release of super and keep records that demonstrate your eligibility. If you apply and youre not eligible at the time of submitting your application, ATO will take action.... If you are unable to demonstrate your eligibility when ATO ask for evidence, ATO may revoke the determination issued in respect to your application. This means the amount paid to you under COVID-19 early release of super will: become assessable income need to be included in your tax return and you will pay tax on the released amount. If you provide false or misleading information you could face penalties of more than $12,000 for each false and misleading statement. Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #ato #covid19 #superannuation #earlysuperannuationaccess #tax

14.01.2022 You were an inspiration to millions. You made people love basketball. Youve left a legacy rarely matched in sporting world. You were an icon not just in basketball world but in entire sporting world. No words can express the trauma sporting world is going through right now. So sad you left the world so early. ... Your demise reminds us one thing no matter how much wealth and fame one has amassed, its not enough to buy an extra minute of life when your time on earth is up. Always be grateful for what you have, stay humble when you are successful and be gracious in defeat. Our prayers are with your loved ones. RIP! MAMBA.

14.01.2022 ATO Lodgement Program 2019-20 Each year Australian Taxation Office (ATO) issues certificate to Tax Agents that meet ATOs on time lodgement performance requirement for its annual lodgement program. Achieving on time lodgement performance requirement indicates that a Tax Agent is assisting their clients in meeting their tax reporting obligations in a timely manner. ... Expert Tax is proud to meet ATOs on time lodgement performance requirement for Lodgement Program 2019-20. Expert Tax always take steps to ensure returns are lodged on time by posting regular updates and reminders across its social media pages and also sending regular email reminders to its clients from time to time. Contact Expert Tax on 0449 952 855 or 1300 8 MY TAX (1300 869 829) to book appointment. #ato #gst #tax #lodgemytax #taxreturns #taxlodgement

14.01.2022 #EconomicResponsetoCOVID19 JobKeeper Payment for sole traders Sole traders may be eligible to receive the JobKeeper Payment if their turnover has reduced. ... Following registration by the eligible business, the Government will provide $1,500 per fortnight per eligible employee for a maximum of 6 months. This will support sole traders to maintain their income and connection with employees. Click on below link for information on eligibility and how to apply - https://expert-tax.com.au/?p=2256&preview=true #covid19 #covid-19 #ato #tax #payg #stimuluspackage

13.01.2022 Do you have a Study or Training Loan? Click on below link to find out latest repayment thresholds and rates - https://expert-tax.com.au/study-and-training-loan-repaymen/... Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance.

12.01.2022 #COVID19JOBKEEPERPAYMENT JobKeeper payment How to Enroll? (from 20 April 2020 onward) You or a registered tax professional can enrol for the JobKeeper payment. ... Click on below link to find out how to enroll for JobKeeper payment - https://expert-tax.com.au/jobkeeper-payment-how-to-enroll-/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #covid19 #stimuluspackage #gst #ato #tax #jobkeeperpayment

12.01.2022 Top tax time myths for 2020 At a time when many people want the tax refund that they are expecting to arrive quickly, the Australian Taxation Office (ATO) is warning people not to get tripped up by tax time myths that slow down returns. Click on below link to read more -... https://expert-tax.com.au/top-tax-time-myths-for-2020/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for lodgement of your personal and business tax returns. #tax #gst #businesstax #personaltax #incometax #covid19 #ato #taxreturns

12.01.2022 Early access to superannuation due to COVID-19 Individuals affected by the coronavirus can access up to $10,000 of their superannuation in 2019-20 and a further $10,000 in 2020-21. You will be able to apply for early release of your superannuation from mid-April 2020.... Click on below link for more info. https://expert-tax.com.au/early-access-to-superannuation-d/

11.01.2022 Work from home Shortcut method ATO has introduced a shortcut method to simplify how you calculate your deduction for working from home. Using this method, you can claim 80 cents per hour for each hour you work from home during the period 1 March to 30 June 2020.... Click on below link to read more - https://expert-tax.com.au/work-from-home-shortcut-method/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #workfromhome #covid19 #shortcutmethod #ato #tax #deductions #workrelateddeductions

10.01.2022 Medicare levy reduction for low-income earners Your Medicare levy is reduced if your taxable income is below a certain threshold. In some cases, you may not have to pay the levy at all. Click on below link to read more - ... https://expert-tax.com.au/medicare-levy-reduction-for-low-/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance on tax related matters. #covid19 #ato #medicarelevy #tax #gst #incometax

09.01.2022 #COVID19JOBKEEPERPAYMENT JobKeeper Payment Calculating fall in turnover for Eligible employers How you choose to project your fall in turnover is not dependent on whether you report a quarterly or monthly BAS, though you can do that if it is easier.... Click on following link to find out more on calculating fall in turnover for eligible employers - https://expert-tax.com.au/jobkeeper-payment-calculating-fa/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #covid19 #stimuluspackage #gst #ato #tax #jobkeeperpayment

09.01.2022 #COVID19JOBKEEPERPAYMENT JobKeeper Enrollment Eligible Employers can now enroll for JobKeeper payment. ... Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance with enrollment. #covid19 #stimuluspackage #gst #ato #tax #jobkeeperpayment

08.01.2022 #COVID19Jobkeeperpaymentforselfemployed JobKeeper Payment for Self-Employed The JobKeeper Payment is available to eligible employers, businesses including companies, partnerships, trusts and sole traders, not-for-profits and charities. ... Click on following link for more information - https://expert-tax.com.au/jobkeeper-payment-for-self-emplo/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance.

07.01.2022 Purchased a Rental Property using Bank Loan? You can claim a deduction for borrowing expenses directly related to purchasing your rental (investment) property. You incur these expenses in taking out a loan for the purchase of your rental property. You can claim the following as borrowing expenses:... 1. loan establishment fees 2. lenders mortgage insurance (insurance taken out by the lender and billed to you) 3. title search fees charged by your lender 4. costs for preparing and filing mortgage documents (including solicitors fees) 5. mortgage broker fees 6. fees for a valuation required for loan approval 7. stamp duty charged on the mortgage. Expert Tax has experience in managing complex returns involving rental properties. Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #rent #tax #taxreturns #investmentproperty #loan #borrowingexpenses #RentalIncome

06.01.2022 Benefits of using a Tax Agent Using a tax agent to lodge your return takes the stress out of completing your return. You can be rest assured that all possible legitimate deductions are being claimed on your tax return if you choose to use a registered tax agent to lodge your tax return.... Click on below link to read more https://expert-tax.com.au/benefits-of-using-a-tax-agent/ Expert Tax is a registered tax agent and can be contacted on 0449 952 855 or 1300 869 829 for lodgement of personal and business tax returns. #covid19 #ato #GST #TAX #personalincometaxreturn #incometax #taxagent

04.01.2022 Meal expenses incurred during ride sourcing are claimable MYTH or FACT? Very often we are asked if meal expenses incurred while driving Uber, Ola, DIDI or using any other ride sourcing platform are deductible. ... Weve noticed a spike in inquiries relating to deduction for meal expenses. In most cases, clients tell us that other accountants are claiming meal expenses on GST returns for ride sourcing and have been told by other accountants that these expenses are deductible. There are some expenses that cant be claimed because theyre personal expenses or not allowed under the law. This includes personal or private expenses, such as meals you purchase while on a break. Next time, if an accountant tells you that meal expenses incurred while ride sourcing are claimable, ask them to show an ATO weblink confirming the same. Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance on tax related matters. #meals #uber #taxi #didi #ola #experttax #ato #mealswhiledrivinguber

02.01.2022 JobKeeper - Business monthly declaration If you have enrolled for the JobKeeper Payment and identified your eligible employees, you need to make a business monthly declaration to the ATO. Click on below link to read more -... https://expert-tax.com.au/jobkeeper-business-monthly-decla/ Contact Expert Tax on 0449 952 855 or 1300 869 829 for further assistance. #jobkeeper #covid19 #ato #covid19stimuluspackage

02.01.2022 Monthly Job keeper declaration is due by 14th September 2020. Contact Expert Tax on 0449 952 855 or 1300 869 829 for assistance. #jobkeeper #ato #tax #gst #businesstax

02.01.2022 Come 2020 tax time, everyone wants to get their hands-on potential refunds as soon as possible. ATO is urging taxpayers to hold off from lodging until all their income details have been finalized. Very often eagerness to get a tax refund soon leads to making obvious mistakes that can either delay processing of tax return or result in a tax bill later on. Due to Single Touch Payroll, employers with 20 or more employees have until 14th July 2020 to finalise income statements, w...hile employers with less than 19 employees have until 31st July 2020. Finalization of income statements will allow the ATO to prefill income tax return and display information as tax ready. Therefore, it is imperative to check with your employer that they have finalized your income statement and it is marked as tax ready before you lodge your return. Other information from bank banks, private health funds and government agencies will also be automatically available for prefill by the end of July 2020. Make sure you provide all information to your tax agent if you are lodging before then and information is accurate and up to date to avoid delays or a debt later on. Contact Expert Tax on 0449 952 855 or 1300 869 829 for lodgement of your tax returns.

01.01.2022 #EconomicResponsetoCOVID19 JobKeeper Payment Information for employees Under the JobKeeper Payment, businesses impacted by the Coronavirus will be able to access a wage subsidy from the Government to continue paying their employees. ... Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum of 6 months. Click on below link for more information - https://expert-tax.com.au/jobkeeper-payment-information-fo/ #covid19 #covid-19 #ato #tax #payg #stimuluspackage