Emma Zajac, Author at The Garis Group

Emma Zajac

291 posts

Early Tax Time Lodgers Cautioned on COVID-19 Variables

July 2, 2020

ATO, COVID-19, COVID19, Tax, Tax Return, Tax Time, taxpayers

Taxpayers chomping at the bit to lodge their tax returns have been urged to hold off for at least a few weeks as COVID-19 throws up new variables this tax time. Individual taxpayers are expected to rush in to lodge their returns early this year as they look to secure refunds, as well as the…

Happy New Financial Year 2020/2021

July 1, 2020

Emma Zajac

2020, 2021, New Financial Year, Tax Time

To all our valued clients, Happy New Financial Year! Naturally as I’m sure you’re all aware the past few months have been incredibly challenging for the community in general. COVID19 has created and continues to create enormous health & economic disruption for individuals and families alike. We recognise that many of our clients…

Tax Time 2020 | ATO Homes in on Rental Deduction Claims

June 29, 2020

Emma Zajac

2020, ATO, Bushfires, Claim, Coronavirus, COVID-19, COVID19, Investment Property, Natural Disaster, property, Rent, Rental Claim, Rental Deduction, Tax, Tax Time

Rental deduction hotspots for this tax time have now been identified by the ATO as it anticipates a change in claims because of COVID-19 and recent natural disasters. Rental deduction claims continue to be a focus point for the ATO leading into tax time 2020, with the agency doubling its in-depth audits last year on the back…

COVID-19 | ATO Reins in Early Access to Super Tax Schemes

June 22, 2020

Emma Zajac

COVID-19, COVID19, Early Release Super, Super, Superannuation

Australians looking to take advantage of a tax benefit loophole in the COVID-19 early access to super scheme have now been put on notice as the ATO releases guidance on when it will apply the general anti-avoidance rule. The Tax Office has now drawn a line in the sand for tax schemes involving the COVID-19 early…

Tax Time Tips for Side Hustlers this EOFY

June 16, 2020

Emma Zajac

EOFY, Hobby, Second Job, Small Business, Tax, Tax Time

With the way we work constantly changing due to COVID-19, some enterprising people have used the extra time to make money through the sharing economy or by establishing a side hustle. If that’s you, then doing your tax return may be a little different this year. Xero teamed up with bookkeeper Jo Doye who shares…

The Garis Group shares information on the $150k instant asset write-off which has now been extended for 6 months

COVID-19 | $150k instant asset write-off extended for 6 months

June 10, 2020

Emma Zajac

business, Cash flow, COVID-19, COVID19, Instant Asset Write Off, Small Business, Tax Deductions

The $150,000 instant asset write-off has now been extended until the end of the year as the government looks to spur businesses to invest. The instant asset write-off threshold of $150,000 for businesses with an aggregated turnover of less than $500 million will now be extended to 31 December 2020. The extension, estimated to cost $300 million…

HomeBuidler: What is it and How do you access it?

HomeBuilder: What is it and how do you access it?

June 5, 2020

Emma Zajac

building, Government, Home, Home Builder, Homebuilder, House

The Government has announced grants of $25,000 to encourage people to build a new home or substantially renovate their existing home. The HomeBuilder scheme targets the residential construction market by providing tax-free grants of $25,000 to eligible owner-occupiers, including first home buyers, to build a new home or substantially renovate their existing home. The grants…

Save Tax – Avoid tax penalties by making your Trust Distribution Resolutions before 30 June 2020

2020 Tax Planning | Avoid Extra Tax, Trust Distributions Before 30 June!

June 3, 2020

Emma Zajac

2020, Save Tax, Tax, Tax Planning, Tax Time, Trust, Trust Distribution, Trustee

Do you have a Discretionary Trust (also known as a Family Trust)? If yes, you MUST keep reading! In the lead-up to 30 June 2020, we want you to be aware that you need to complete your trust distribution resolutions before 30 June. Why? To avoid paying extra tax of up to 47% of Trust…

Imminent Workplace & ATO Targets for 2021

June 2, 2020

Emma Zajac

Annual Leave, ATO, Audit, Casual, Compliance, Employees, Employers, Employment Entitlements, Jobkeeper, Part-Time, Permanent, Shift-workers, Small Business, Targets, Tax, Taxation

What’s changing on 1 July? Company tax rate reduces to 26% for base rate entities $150k instant asset write-off scheduled to reduce back to $1,000 for small business entities and will no longer be available for entities with aggregated annual turnover of $10m or more, although accelerated depreciation rules apply to certain entities until 30…

2020 Tax Planning | Save Tax – ‘Cap’ Tax Using a ‘Bucket Company’

May 27, 2020

Emma Zajac

2020, Bucket Company, Save Tax, Tax, Tax Planning

In the lead up to 30 June 2020, we want you to know why using a ‘bucket company’ can be a great strategy for saving tax on trust profits distributed. Profits from a Trust? Do you have a Trust that generates profits? If yes, then read on! A “bucket company” allows you to “cap”…

Early Tax Time Lodgers Cautioned on COVID-19 Variables

Happy New Financial Year 2020/2021

Tax Time 2020 | ATO Homes in on Rental Deduction Claims

COVID-19 | ATO Reins in Early Access to Super Tax Schemes

Tax Time Tips for Side Hustlers this EOFY

COVID-19 | $150k instant asset write-off extended for 6 months

HomeBuilder: What is it and how do you access it?

2020 Tax Planning | Avoid Extra Tax, Trust Distributions Before 30 June!

Imminent Workplace & ATO Targets for 2021

2020 Tax Planning | Save Tax – ‘Cap’ Tax Using a ‘Bucket Company’

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