Emma Zajac, Author at The Garis Group

Emma Zajac

291 posts

ATO Announces Areas Of Focus at Tax Time

May 26, 2022

ATO, Business Tax, Capital Gains, Capital Loss, Small Business, Tax, Tax Time

The ATO has revealed four key areas it will be focusing on as businesses prepare for tax time. The four areas of focus are: recordkeeping work-related expenses rental property income and deductions, and capital gains from crypto-assets, property, and shares. Assistant Commissioner Tim Loh said that the ATO was targeting problem areas where it sees…

ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.

ATO ramps up heat on directors

May 10, 2022

Emma Zajac

ATO, Company, Director, GST, PAYG, Superannuation

Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations. These letters are a warning shot and should not be ignored. The director penalty regime ensures that directors are personally liable…

What’s changing on 1 July 2022?

May 10, 2022

Emma Zajac

First Home Owner, GST, Home Loans, PAYG, Retirement, Small Business, Superannuation, Superannuation guarantee, tax instalments

A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For Business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each year until it reaches 12% on 1 July…

Can I claim a tax deduction for my gym membership?

May 10, 2022

Emma Zajac

Gym Membership, Gym Membership Claims, Gym Tax, Tax

There are lots of reasons to keep fit but very few of them have to do with how we earn our income. As a result, a tax deduction for a gym membership isn’t available to most people. And yes, the Tax Office has heard all the arguments before about how keeping fit reduces sickness and…

Fuel Tax Credit Changes

May 10, 2022

Emma Zajac

Fuel, Fuel Tax, Fuel Tax Credit, Small Business

The Government temporarily halved the excise and excise equivalent customs duty rates for petrol, diesel and all other petroleum-based products (except aviation fuels) for 6 months from 30 March 2022 until 28 September 2022. This has caused a reduction in fuel tax credit rates. During this 6 month period, businesses using fuel in heavy vehicles…

The 120% deduction for skills training and technology costs

May 10, 2022

Emma Zajac

Business Expenses, Skills, Small Business, Technology Investment Boost, Training, Training Boost

It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction. But, there are a…

What Expenses Can I Claim Whilst Working From Home?

April 19, 2022

Emma Zajac

Tax Accountants, Tax Deductions, Tax Returns

There has been a significant push in recent times for businesses to offer the option to work from home due to the global pandemic and various lockdown restrictions due to COVID-19. The transition to working from home has come with a number of benefits for workers, including a more convenient working lifestyle and the removal…

Are Your Contractors Really Employees?

March 14, 2022

Emma Zajac

Contractor, Contractor Auperannuation, Contractor Tax, employee, Employee Super, Employee Tax

Two landmark cases before the High Court highlight the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that if they hire independent contractors they will not be responsible for PAYG withholding, superannuation guarantee, payroll tax and workers compensation obligations. However, each set…

The Federal Budget has been brought forward to 29 March 2022.

Federal Budget 2022-2023: Brought Forward

March 14, 2022

Emma Zajac

Election Budget, Federal Budget, Federal Budget 22-23

The Federal Budget has been brought forward to 29 March 2022. With the pandemic and the war in Ukraine we have seen a lot less commentary this year about what to expect in the Budget. But, as an election budget, we typically expect to see a series of measures designed to boost productivity, many of…

Immediate Deductions Extended

March 14, 2022

Emma Zajac

Assets, Costings, deductions, Expenses, Small Business

Temporary full expensing enables your business to fully expense the cost of the below listed, in the first year if use: new depreciable assets improvements to existing eligible assets, and second hand assets Introduced in the 2020-21 Budget and now extended until 30 June 2023, this measure enables an asset’s cost to be fully…

ATO Announces Areas Of Focus at Tax Time

ATO ramps up heat on directors

What’s changing on 1 July 2022?

Can I claim a tax deduction for my gym membership?

Fuel Tax Credit Changes

The 120% deduction for skills training and technology costs

What Expenses Can I Claim Whilst Working From Home?

Are Your Contractors Really Employees?

Federal Budget 2022-2023: Brought Forward

Immediate Deductions Extended

Contact Us

In Person

Address

Links

Social Media