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The Benefits of a Pay As You Go (PAYG) Withholding Variation

WebA PAYG withholding variation, allows an individual to vary the amount of tax withheld by their employer each pay cycle. There are two parts which consist of an …

Actived: 7 days ago

URL: https://www.linkadvisors.com.au/blog/tips-and-tricks/the_benefits_of_a_payg_withholding_variation

Is your workplace ready for you to go back to the office

WebMay 19, 2020 | Business, COVID-19 Many of us have been working from home for well over 6 weeks. While we have been settling in and getting our jobs done (for the most part), …

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What has changed after 20 years with GST

WebThe GST was designed to replace the outdated, inefficient, and distorted system of state and federal indirect taxes with a new tax system that was fairer, simpler, …

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How to Properly Recognise Income in Your Medical or Dental …

WebWe’ve got some fantastic clients in the medical industry. When we get a new client in this industry, we see the same issues popping up every now and then. One of …

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Employers guide to employee leave when unable to work due to …

WebAn employer may request evidence of an absence due to a positive COVID-19 test. Acceptable evidence is that which would satisfy a ‘reasonable person', such as a …

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A Guide On Helping Employees In Emergencies

WebDuring an emergency situation certain assistance you provide to your employees is exempt from FBT in order to enable you to assist them. FBT exempt …

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Family Trusts – Who should I Distribute the income to

WebThe first person we recommend distributing income to is you. The ‘sweet spot’ of income distribution is roughly $90,000. We are utilising the tax bracket of 34.5%, as when you …

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GST and Income Tax for Rideshare Drivers

WebConclusion. As a driver for a ridesharing operator you will have unique tax obligations that you must fulfil. This applies for both GST and income tax. If you need …

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Guide to Accounting for Retention Payment in the Building

WebCreate a current asset account “Retentions Held” and a current liability account “Liability for Defects”. Both use BAS Excluded for the Tax Rate. In this example, we assume that the …

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COVID-19 Stimulus, Financial Assistance & Support

Web1. Federal Government Stimulus for Business Owners JobKeeper Payment for Employers . What: Payments of $1,500 per fortnight (before tax) per eligible employee to all eligible …

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LINK Advisors: Chartered Business Accountants Brisbane

WebFeel confident knowing your business is secure with Link Advisors’ backing. We work behind the scenes, building strategies with you to ensure that your business’ future is secure. …

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When does GST apply to medical services

WebThese third-party arrangements are most common via a private health insurer. If the service would ordinarily be GST-free if it was to be provided directly by a …

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How to get the biggest tax deductions for your overseas travel

WebAirfares – when the main purpose of the travel is for business/professional development, in most cases 100% of the airfare will be deductible, otherwise, a % of the …

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Advantages and Disadvantages of Using a Family Trust for your …

WebAdvantages of using a Family Trust. The advantages include: · Asset protection when a corporate trustee is used (we always recommend having a company …

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Single Touch Payroll Exemption for Directors and Family Members

WebHowever, STP requires payments to be reported in real time to the ATO. But a new concession now will allow payments made by employers who are small, with 19 …

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The Purpose Behind Tax Optimisation

WebTax optimisation is a strategic approach aimed at legally minimising your tax payable each year. It involves an assessment of your business and is in place to take …

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Changes in Super Guarantee for 2023 financial year

WebSuper Guarantee rate will increase from 10% to 10.5%. From 1 July 2022, all employers are required to start making Super Guarantee contributions at the new rate of 10.5% of an …

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Should I run multiple businesses out of one company

WebThe rule of thumb. Whilst it is possible to run multiple businesses under one company, it does come with its limitations. The general rule of thumb is; The choice as to …

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4 Questions We Hear about Late Superannuation Payments

WebIf super is paid late (even by 1 day), it can have dire consequences such as you no longer being able to claim a tax deduction. The amount of super payable could …

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