The ATO has announced changes to how Australians can calculate their deductions for working from home.
Cryptocurrency is viewed as a ‘personal use asset’ by the ATO if it is held for personal use. The ATO may exempt capital gains made from cryptocurrency valued up to $10,000 if it is considered a personal use asset.
The ATO modified their rules regarding payment of Fringe Benefits Tax (FBT) for electric cars for this financial year. As of 1 July 2022, employers are now exempt from paying FBT benefits provided for electric cars.
The ATO has issued a warning to owners of holiday homes claiming rental deductions, indicating they will be pursing those submitting incorrect claims.
Managing cash flow is crucial for the survival and success of any business. Business owners who stay on top of their cash flow can avoid financial difficulties, maintain positive relationships with suppliers, keep operations running smoothly and make strategic decisions for the future.
When it comes to running a business, it is essential to have a handle on your business processes.
We are delighted to announce the appointment of Marcia Johnson as a Director in our Audit & Assurance division. Marcia Johnson re-joins Armada as familiar face to some of our team members and clients, having worked for Abbott Solutions from May 2014 – December 2015.
December and January are the most common months for people to leave their job or begin search for a new one, therefore it is not uncommon if you have noticed a slight uptick in your team turnover lately.
The most recent Employer Quarterly Super Contribution was due to be paid on 28 January 2023. Employees will be checking to ensure their employer has paid super by this date as missing or late superannuation payments can have a significant impact on the long term growth of one’s super balance.