Harry Zaher | Tax preparation service

Harry Zaher

Phone: +61 2 9542 2068

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• Tax preparation service
• Accountant

21.01.2022 Get ready - second round of cash flow boosts: If you received initial cash flow boosts, you'll automatically receive additional cash flow boosts when you lodge your activity statements for each monthly or quarterly period from June to September 2020. The amounts will be equal to the total amount of initial cash flow boosts you received and will be split evenly over your lodgments. If you lodge:... quarterly, you'll receive 50% of your total initial cash flow boost for each activity statement monthly, you'll receive 25% of your total initial cash flow boost for each activity statement. When you lodge your June 2020 activity statement, you may receive the last part of your initial cash flow boost and the first additional cash flow boost as a credit. See our website for examples. If you haven't made payments to employees subject to withholding, report '0' for PAYG withholding when lodging your activity statement to ensure you receive the additional cash flow boost. It's important you don't cancel your PAYG withholding registration until you've received the additional cash flow boosts. Remember, registered tax agents and BAS agents can help you with your tax.

15.01.2022 ATO news: Confused by motor vehicle expenses? 12 September 2019... Working out motor vehicle expenses for your business can be tricky. We've created a fact sheet to help you get your motor vehicle expenses right. Our Small business motor vehicle expenses fact sheet will help you answer common questions about: types of motor vehicle expenses you can claim methods you can use to calculate your claim private use of a business car whether your vehicle is considered to be a car, and how this affects your claim records you need to keep. The fact sheet is short and easy to use - download it now! Remember, registered tax agents and BAS agents can help you with your tax.

13.01.2022 ATO News: Lower taxes for hard-working Australians: Building on the Personal Income Tax Plan The Government's changes to the Personal Income Tax Plan as announced in the 201920 Federal Budget, are now law. (See aph.gov.auExternal Link link).... The ATO is implementing the necessary system changes so taxpayers that have already lodged their 2018-19 tax return will receive any increase to the low and middle income tax offset they are entitled to. Any tax refund will be deposited in the taxpayer's nominated bank account. You will not need to request an amendment. Assessments for returns already lodged are expected to start to issue from Friday 12 July and into the following week, which is in line with the normal processing of refunds for this time of year. The legislation introduces changes to income tax thresholds and tax offsets. As a non-refundable offset, any unused low and middle income tax offset cannot be refunded. The low and middle income tax offset will directly reduce the amount of tax payable but does not reduce the Medicare levy. If not all the offset is used to reduce the tax payable, there is no refund of any unused portion.