February lodgement deadlines
With the Christmas holidays now behind us, we are now back in normal lodgement patterns. So here are the lodgement deadlines for February. Deadlines for the month of February 2025 are:- 7th – monthly Pay-roll Tax – January 2025 remuneration 21st – monthly BAS remitters – January 2025 BAS 21st – quarterly BAS lodgers with
SG super reminder
I trust you had an enjoyable festive season – but it is now time to focus on time critical obligations. So here is a quick Super Guarantee (SG) super deadline reminder. Tuesday 28th January is the end date for satisfying your SG super obligations for the December 2024 quarter. Please make sure you do not
Beware the new Vacant Residential Land Tax (VRLT)!
One of the state government’s many new taxes is the Vacant Residential Land Tax (VRLT). And it requires action no later than 15th January. So what is the VRLT? It is a tax imposed on residential properties not occupied for 6 months or more during the 2024 calendar year. Why you need to
Are you a share trader or share investor?
Are you a share trader or share investor? It’s an important distinction as it can make a world of difference. Both declare dividends as income (with a tax credit for any imputation/franking credits). However:- A share investor is assessed on realised gains (i.e. when a share is sold). Only 50% of the gain is assessed
National Scam Awareness Week
No doubt you have heard through multiple channels that it is National Scam Awareness Week. Some of the stories that have come out this week have been frightening. Perhaps the most alarming one was that the Commonwealth Bank stated that they are pulling down 50 fake web sites a week! One must be vigilant and
How can I claim car travel?
In order to claim car travel in your personal Tax Return:- You (or your partner) must own the car. You must have undertaken a trip for either your business or your employer. You can claim under two methods:- Log book, or Cents per kilometre Tip You can use a log book kept for three months
What is the depreciation limit?
What is the depreciation limit is a very good question as it has unclear for too long. It was all clear after 30th June 2023 that the instant asset write-off provisions for small businesses had ended. It was great whilst it lasted (but noting the flip side that the proceeds from selling car fully written
Can I deduct the cost of charging my electric vehicle?
This has become a common tax question. And the answer is it depends whether you can deduct the cost of charging your electric vehicle. No claim is available if you claim work car expenses under the cents per kilometre method. That is because the per kilometre rate takes into account charging costs. Electric charging costs
Correctly claiming your home office expenses
With the start of a new financial year it is timely to explore how to correctly claiming your home office expenses. Can I claim home office expenses? Yes you can if:- You are undertaking genuine employment related activities, or Home is your sole base of operations (which includes employees who are not provided with an
Can you benefit from catch-up super contributions?
It’s that time of year when people are looking for tax deductions. The relatively new catch-up concessional contribution system may be ideal for some. Long gone are the days when contributions of more than $100,000 could be made into super. And now that the deducible contribution limit is just $27,500 it just doesn’t leave much