‘Increase the rate, broaden the base’: Looking at GST 20 years on

Looking at GST 20 years on: ‘Increase the rate, broaden the base’

Consumption tax should be raised to 20 per cent or broadened to cover a wider base, says tax experts as debate over the GST rages on. At a tax reform conference hosted by the Blueprint Institute in Sydney on Monday, a panel of tax experts each had varying suggestions to government on the ways the…
ATO launches new tax residency data-matching program

New Tax Residency Data-Matching Program Launched by ATO

The tax residency status of Australians and foreign residents are set to undergo closer scrutiny by the ATO as it launches a new data-matching program that will cover 670,000 individuals each year. The Department of Home Affairs will now provide the ATO with arrival and departure records of travellers to and from Australia for the…

The 1st July 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. In general, your superannuation is either in an accumulation account (when you are building your super), a retirement account (when you meet preservation age and certain conditions…
The Garis Group Win Australian Small Business Champion Award for Accounting Services

Hunter Headline – Local Business Excellence Awarded at Australian Small Business Champion Awards

A number of local businesses were recently recognised at the Australian Small Business Champion Awards, the only national recognition program dedicated to celebrating small businesses around Australia The program aims to acknowledge outstanding Australian small businesses and encourage high standards of excellence in small business practice. The long-awaited ceremony was held on Saturday 27 February…
The Garis Group Wins Best Small Business Accounting Firm in Australia

The Garis Group Wins Best Small Business Accounting Firm in Australia

In some exciting news for Newcastle & the Hunter over the weekend, local accounting firm The Garis Group won best small business accounting firm in Australia at the nationally recognised Small Business Champion awards at the International Convention Centre in Darling Harbour, Sydney on Saturday night. The awards night was postponed several times throughout 2020…
Coronavirus grants now tax-free

Coronavirus Grants Now Tax-Free

Legislation aimed at ensuring coronavirus small business grants are not subject to income tax has now passed both houses of Parliament. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 passed Parliament late on Thursday. The bill amends income tax law to make certain grant payments received by eligible businesses non-assessable non-exempt income so that these…
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