There is increasing concern by economists that a number of businesses will not recover after the government support package of JobKeeper comes to an end. Fortunately, the program has just been extended. However, for some companies, this may only delay … Read More
For many business owners and individuals, this year’s tax return is going to be like no other. The Covid-19 lockdown and collapse in revenue for some businesses meant that they had to find strategies in a hurry to ensure their … Read More
A major part of the Government’s response to the Coronavirus (or ‘COVID-19’) pandemic is the ‘JobKeeper Payment’ Scheme. The JobKeeper Payment is a wage subsidy that will be paid through the tax system (i.e., it will be administered by the … Read More
Different occupation groups can claim different tax deductions. In this article we’re putting the spotlight on concreters and highlight what they can claim as business expenses. Typical tax deductions for concreters include: Motor vehicle travel to and from work if … Read More
Have you been burning the midnight oil in your office to finalise bookkeeping tasks or work on your business financial administration recently just so you could meet the QBCC reporting requirements? It’s certainly one way to get yourself out of … Read More
The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019. If the PAYG withholding rules require an amount to be … Read More
There is an important date coming up which is critical for tradies and builders holding a QBCC licence. Self-certification categories (SC) 1 and 2 and category 1 to 3 licensees must provide the Queensland Building and Construction Commission (QBCC) with … Read More
The ‘cents per kilometre’ method broadly allows an individual taxpayer to claim up to a maximum of 5,000 business kilometres per car, per year without the need to keep any written evidence (e.g., receipts) of car expenses. Importantly, taxpayers making … Read More
Tradies may be feeling a bit overwhelmed trying to wade through all the information the QBCC has on their website about how to stay compliant with your licence conditions. Therefore, it’s important that you know when you could be breaking … Read More
When the average consumer thinks about building works they often imagine cranes on big commercial building sites in the city, where a new highrise grows from a huge hole in the ground with trucks ferrying steel and concrete to and … Read More