Latitude Tax & Advisory in Gympie, Queensland | Financial service

Latitude Tax & Advisory

Locality: Gympie, Queensland

Phone: +61 7 5482 3887

Address: 10 Apollonian Vale 4570 Gympie, QLD, Australia

Website: http://www.latitudetax.com.au

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25.01.2022 Interesting stats on people who ‘reside’ in tax havens & how much $$$ they have in Aussie bank accounts. Just shows the ATO will find you!

19.01.2022 A bit of a detailed look at the Budget from Tuesday night. Remember most of the announcements are just that & have no effect until legislated.

17.01.2022 A Victorian man has just received a criminal conviction for fraud for falsely obtaining $6,000 in JobKeeper wages subsidies. I reckon there will be a few worried people now looking over their shoulder!

16.01.2022 The ATO has managed to track down some people who rorted claiming JobKeeper - I’m sure there will be more. Maybe the ‘early release of super’ is next.

16.01.2022 The ATO is now chasing up to $155m in JobKeeper overpayments where there has been a ‘deliberate’ or ‘reckless’ action to access the subsidy despite not being eligible. This is on top of $120m recovered late last year.

14.01.2022 Did you know 1/2 million Australians have cleaned out their super under the Early Access stimulus!

11.01.2022 PLEASE be ever mindful of scams. If in any doubt whatsoever, call us

10.01.2022 Did you know that as many as 1 in 12 people who accessed their super early were not eligible to do so? The ATO are commencing a review of those people it believes were not eligible. If caught out, any super is included as taxable income & you are then personally liable for the tax at your marginal tax rate plus you could face fines of more than $12,000. You would have declared you were eligible under one of the criteria. Refer to ATO for information:

06.01.2022 The ATO has just released its GST performance report for 2019-20. GST cash collections were $60.2 billion, 7.6% lower than the previous year - shows the impact of COVID. Unpaid GST increased from $1.6 billion to $6.4 billion in part due to payment deferrals granted.

05.01.2022 JobKeeper No.3 - significant changes from end of September onwards to both employer eligibility and employee eligibility.

04.01.2022 The tax cuts announced in the Budget last week are now law. Although back dated to apply from 1st July, they won’t take effect until the ATO issues the new schedules & software providers can release updates. You CANNOT get ‘back paid’ for the extra tax that has already been deducted - it will be paid when your 2021 tax return is lodged as either extra refund or reduced tax payable.

02.01.2022 Did you know just over 3 million people accessed their super early under COVID stimulus with 1.5 million claiming in both rounds. $38 billion in total. It’s estimated around 2% were not eligible. It may not sound like much but 2% of 3 million is 60,000.