With the holiday season approaching, many employers and businesses want to reward their staff and loyal clients/customers/suppliers. An employer holds a Christmas party for its employees and their spouses. The cost of food and drink per person is $250 and no other benefits are provided. If the actual method is used: For all employees and […]
Christmas Gifts & Christmas Parties Read More »
At GC Accountants we make tax time easy for you while we work hard at getting you the biggest refund possible – come and see us today – new clients receive a $60 discount!! This offer is valid from 1 August to 31 October.
Tax Time – $60 Discount for New Clients! Read More »
At GC Accountant’s we are dedicated to helping our clients enhance and protect their financial wellbeing and achieve their lifestyle goals. We’re authorised to provide financial advice on a wide range of strategies, in addition to the tax and accounting service you currently receive from us. This includes superannuation, retirement planning and insurance. We believe
We’re Here to Help You Read More »
The Government has introduced legislation to complement the superannuation guarantee (SG) integrity package already before Parliament by introducing a one off, twelve month amnesty for historical underpayment of SG. The Bill incentivises employers to come forward and “do the right thing by their employees” by paying any unpaid superannuation in full, as well as the
Superannuation Guarantee Amnesty Introduced Read More »
The ATO has recently advised that they are “setting their sights on the large number of mistakes, errors and false claims made by rental property owners who use their own property for personal holidays”. While it confirms that the private use of holiday homes by friends and family is entirely legitimate, the ATO states that
ATO Focus on Holiday Home Rentals Read More »
Applications for the HomeBuilder program, introduced by the Government last year, closed on 14 April 2021 (and applicants have until 30 April 2023 to submit all supporting documentation, such as invoices for work done and proof that construction has started, to their State or Territory Revenue Office). HomeBuilder is expected to continue to support the
HomeBuilder Program Read More »
From 1 July 2021, the superannuation concessional and non-concessional contribution caps will be indexed. The new caps for the 2021/22 year will be: • Concessional Cap: $27,500 • Non-Concessional Cap: $110,000 (or $330,000 over three years) The total superannuation balance limit that determines if an individual has a non-concessional contributions cap of nil will also
Superannuation Concessional And Non-Concessional Contribution Caps To Be Indexed Read More »
This is a landmark development as it aims to reform casual work. It now includes a definition of casual employment and for the first time allows long term casual employees the right to request being converted to permanent employment. CASUAL EMPLOYMENT DEFINED Under the amended Fair Work Act, if a person is: 1. Offered employment
Fair Work Act: Amendments To Casual Employment Read More »
It appears that the Government has decided not to proceed with its proposal to limit cash payments in Australia to $10,000. This measure was originally raised as part of the 2018/19 Budget (refer to the Black Economy Package — introduction of an economy-wide cash payment limit). The Currency (Restrictions on the Use of Cash) Bill
Cash Payment Limit Bill Shelved Read More »
Do you use the Small Business Superannuation Clearing House (SBSCH)? If you intend to claim a tax deduction for super payments you make for employees in the 2020-21 income year, those payments must be accepted by the SBSCH on or before 23 June 2021. This allows processing time for the payments to be received by
Want to Claim a Tax Deduction on Super Payments? Read More »
