News

Employers exempt from FBT for retraining employees

Employers who deliver training to employees who are to be made redundant will now be exempt from fringe benefits tax after the legislation passed through Parliament.

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Employers exempt from FBT for retraining employees
( Posted in: Tax )

Work from home expenses under scrutiny & the perils of browsing Facebook

If you worked from home during lockdown and spent money on work related items that were not reimbursed by your employer, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed.

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Work from home expenses under scrutiny & the perils of browsing Facebook
( Posted in: Tax )

Tax exemption for ‘granny flat’ arrangements

To protect older Australians, the Government has moved to formalise ‘granny flat arrangements’ by providing an incentive to protect all parties in the arrangement.

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Tax exemption for ‘granny flat’ arrangements
( Posted in: Property )

The 1 July 2021 superannuation changes

Changes from 1 July 2021 will impact on how much money you can contribute to superannuation and how much you can have in your retirement phase superannuation account.

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The 1 July 2021 superannuation changes
( Posted in: SMSF )

ATO’s good-faith approach to crypto won’t last much longer

The ATO has upheld its good-faith approach to the accounting of cryptocurrencies, however it isn’t likely to last much longer.

For those involved in cryptocurrencies, now is the time to really pay attention to the current taxation rules before the ATO tightens enforcement of undeclared crypto assets.

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ATO’s good-faith approach to crypto won’t last much longer
( Posted in: Tax )

Winding-up: Simplifying small business insolvency

On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business.

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Winding-up: Simplifying small business insolvency
( Posted in: Tax )

The JobMaker Hiring Credit

Here at Paris Financial we strive to pass useful and timely advice onto all our small business clients – that’s why we believe we are the small business tax champions!
The following is our comprehensive summary of the recently introduced JobMaker scheme. If you need any further assistance or have any queries, please contact us.

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The JobMaker Hiring Credit
( Posted in: Tax )

Refunds for Tax Losses

If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.

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Refunds for Tax Losses
( Posted in: Tax )