Category: Uncategorized
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Payroll Tax on Medical Centres – We have the Final Rulings from the Commissioners of State Taxation
Four states (NSW, SA, QLD & VIC) have all released a Payroll Tax ruling on medical centres (the NSW one is at https://www.revenue.nsw.gov.au/help-centre/resources-library/rulings/payroll/pta-041 but they are all the same) and, as expected, the Rulings say in many cases payroll tax is payable on the standard medical centre arrangement… because if you read the contract the GPs…
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Undertaking Property Development – capital or revenue
I had to think about this as an issue… so why not turn that thinking into a 20 page paper on the issue for anyone who is interested…
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Just a reminder…
The new guideline on the Alienation of Professional Firm Income (PCG 2021/4) applies from 1 July 2022, so may be an issue when looking at this years tax returns… So below I have a 10 pager covering it in detail… But… If you have existing arrangements, you can continue to rely on the suspended guidelines for…
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Interest deductibility according to the Commissioner…
What happens when you read every Ruling the Commissioner has on interest deductibility… You end up with a very boring paper that you can steal from the next time someone asks for advice on interest deductibility…
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Just in the nick of time…
On 29 March 2022 the previous government announced a digital adoption boost (see below if you want to know what it is)… it was to run from 30 March 2022 for 15 months and end on 30 June 2023. I was asked to give advice on it on 30 March 2022 and I said that…
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A massive tax issue solved (sarcasm)
On a Wednesday, kids gather at my house after school and I provide arvo tea. One of the favourites are “flip” yoghurts, being a small container with yoghurt on one side and bits to be mixed into the yoghurt on the other… Well did you know the tax controversy this causes??? Recently the AAT had…
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Budget 2023
Another Budget and before the Treasurer has finished his speech, we have finished reading the budget papers and know that almost every change to tax and super was announced before Budget night. But there were three main announcements that we were not aware of: $20k instant asset write-off for small businesses (under $10m aggregate turnover)…
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Wait till 1 July 2023 to act on efficiencies in your business
The Treasurer has announced is first budget leak… The Small Business Energy Incentive. The 20% bonus tax deduction for businesses with annual turnover of less than $50 million applies to spending that supports electrification and more efficient use of energy. This could cover the cost of electrifying heating and cooling systems, upgrading to more efficient…
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Dodgy Taxpayers
I just finished a conversation with another person who believes we can fund a myriad of new programs by “making large companies pay their fair share of tax”. I responded with the tax gap results, where the Commissioner of Taxation estimates how much unpaid tax exists. So here it is… The dodgiest is not a…
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4.2 cents per km for electric cars
We know that SOME electric cars are exempt from FBT, but even if they are exempt, we still need to work out the taxable value so we can work out the reportable fringe benefit amount to put on a payment summary (yes, it is exempt but it is still reportable). And to work out the…
