NEWS

30/10/2021

Australian Accounting Awards 2021

30/10/2021

PAYG Rules: Your Staff Got Paid Correctly?

As an employer, it is your obligation to collect tax from the payment you make to employees in helping them meet their end-of-year tax liabilities. Registering for PAYG withholding An […]
30/10/2021

Economic response to the Coronavirus

The Government has announced its economic response to the Coronavirus in the form of a $17.6 billion economic stimulus package. The package has been marketed as a measure to protect […]
30/10/2021

Monday, 8 March: International Women’s Day 2021

“There is no limit to what we, as women, can accomplish.” – Michelle Obama  Happy International Women’s Day (IWD).   At VHL Partners, we are delighted to be supporting International Women’s Day, […]
30/10/2021

Employees VS Contractors

Difference between employees and contractors Determining whether a worker is an employee or a contractor requires reviewing the whole relationship between the individual and the employer.  An employee is an […]
30/10/2021

Company deriving rental income cannot claim CGT concessions

Tax Determination TD 2021/2 (the Determination) released on 24 Feb 2021, confirmed that companies whose only activity is renting out investment property cannot claim the small business CGT concessions outlined […]
30/10/2021

A timely change to the FBT car parking exemption rules

A legislative change, announced in the 2020–21 Federal Budget and legislated by the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (the Economic Recovery Act) […]
30/10/2021

Low and Middle Income Tax Offset (LMITO) now law

Announced in the 2019-20 Federal Budget, the Government’s  changes to the Personal Income Tax Plan has now law. 2018-19 Starting from the financial year 2018-19, there will be an increase […]
30/10/2021

Increasing and Extending the Instant Asset Write-Off

[ux_image id=”1044″] On 6 April 2019, the Treasury Laws Amendment (Increasing and Extending the Instant Asset Write-Off) Bill 2019 (the Act) received Royal Assent as Act No. 51 of 2019. […]
30/10/2021

The Government’s income tax cuts have been passed by the Senate – How much we can save?

Senate crossbenchers Jacqui Lambie and the Centre Alliance confirmed their support on Thursday morning, clearing the path for the new laws, which independent Cory Bernardi has long supported. This year: Modest […]
30/10/2021

Individual Rates of Tax – 2018/19

Resident Individual [ux_image id=”1068″ image_size=”original”] Non-resident Individual [ux_image id=”1069″ image_size=”original”] Low-income Thresholds – Individual [ux_image id=”1070″ image_size=”original”] Low-income Thresholds – Families [ux_image id=”1071″ image_size=”original”] Medicare Levy Surcharge [ux_image id=”1072″ image_size=”original”] Dependent (Invalid […]
30/10/2021

Single Touch Payroll Update

The ATO has reminded employers that legislation has been passed to extend Single Touch Payroll (STP) to include all employers from 1 July 2019. This will be a gradual start, […]