Griffin Tax Professionals | Financial service

Griffin Tax Professionals

Phone: +61 466 667 272

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18.01.2022 Difference between Contractors and Employees What if you get it wrong? The misclassification of an employee as a contractor can be a costly experience for businesses. The ATO has the power to seek recovery of the amount of tax and may impose Interest and penalties.... PAYG Withholding Superannuation Pay and leave entitlements Fair Work prosecution Contact Us Call us now for 15 mins free consultation - 0466 667 272 [email protected] https://www.griffintaxprofessionals.com.au/ #tax #money #taxes #newtax #taxpayers #taxreturn #income #reform #returns #taxreturns #law #taxreform #incometax #taxmoney

09.01.2022 Corporate tax rates and small business tax offset changes Company tax rate for base rate entities will now reduce from 27.5% to 26% in 20202021, and then to 25% for 20212022 and later income years. This means eligible corporate taxpayers will pay 25% in 20212022, rather than from 20262027. The new law also increases the small business income tax offset rate to 13% of the basic income tax liability that relates to small business income for 20202021. The offset rate will t...hen increase to 16% for 20212022 and later income years. Contact Us Call us now for 15 mins free consultation - 0466 667 272 [email protected] https://www.griffintaxprofessionals.com.au/ #tax #money #taxes #newtax #taxpayers #taxreturn #income #reform #returns #taxreturns #law #taxreform #incometax #taxmoney

06.01.2022 Do you know when you can claim a GST credit? Remember that you must register for GST to claim GST credits. You can only claim GST credits if the following conditions met:... You intend to use your purchase solely or partly for your business, and the purchase does not relate to making input-taxed supplies. The purchase price included GST. You provide or are liable to provide payment for the item you purchased. You have a tax invoice from your supplier (for purchases more than A$82.50). Contact Us Call us now for 15 mins free consultation - 0466 667 272 [email protected] https://www.griffintaxprofessionals.com.au/ #tax #money #taxes #newtax #taxpayers #taxreturn #income #reform #returns #taxreturns #law #taxreform #incometax #taxmoney

01.01.2022 How to claim a credit on PAYG instalments already paid Once you have varied down your rate or amount, you can also claim back a credit from the PAYG instalments you have already paid in your current financial year. To do this, complete the amount at label 5B on your activity statement. If you choose to not claim back your credits on your activity statement and you overpay your PAYG instalments, you will be credited with them after your tax return is processed. Contact Us ... Call us now for 15 mins free consultation - 0466 667 272 [email protected] https://www.griffintaxprofessionals.com.au/ #tax #money #taxes #newtax #taxpayers #taxreturn #income #reform #returns #taxreturns #law #taxreform #incometax #taxmoney