Beat the ATO penalties by lodging 15th May 2017
Tax returns for all remaining individuals and trusts have up until 15th May 2017 to lodge to avoid penalties. Companies who were not required to lodge earlier also fall into this category. Your tax obligations don’t go away the longer you ignore them, so take one small step today and simply pick up the phone […]
Working holiday changes from Jan 2017
Do you employ working holiday makers in your business? From 1 January 2017, the ATO has enacted changes to apply a 15% flat rate of tax on the first $37,000 of income earned by working holiday makers. The balance of the income will be taxed at the ordinary rates applied to resident tax payers. The […]
Missed the October 31st tax deadline?
No need to worry. There are lodgement extensions to avoid penalty if you lodge through an accountant. Impala Accountants can prepare your individual and business tax return from the comfort of your own home or office. Call Ryu on 07 5536 1960.
Tax residency
Are you an Australian resident? While this question may seem simple at first glance, the Australian Taxation Office (“ATO”) has ensured that it certainly is not always the case. The ATO views residency differently to other agencies and it is not determined by your citizenship. Residency Tests To determine whether someone is a resident in […]
Work related car expenses
Did you know the rules regarding work related car expenses has changed for the 2016 financial year? There are now only two methods to work out your car expenses: – cents per kilometre or – logbook. Both methods require you to know or estimate your business kilometres. You can use the one that gives you […]