by Team Garnet | Jul 17, 2024 | ATO, Small Business, Superannuation
It’s a new financial year. Make sure your employees’ pay and superannuation contributions are processed right, with a number of changes and rate adjustments coming into effect from 1 July 2024. As the new financial year begins, employers need to keep an eye on various...
by Team Garnet | Jun 9, 2024 | ATO, Tax Time
As the ATO gears up for tax time 2024, it has flagged three primary areas where taxpayers frequently make mistakes. It has emphasised the importance of getting tax returns right the first time to avoid unnecessary complications from having to amend tax returns and...
by Team Garnet | Jun 2, 2024 | ATO, Tax News
Treasurer Jim Chalmers has handed down the 2024-25 Federal Budget with various tax-related measures concerning SMEs. On Tuesday 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget, his 3rd Budget. The major SME business tax-related measures...
by Team Garnet | Apr 2, 2024 | ATO, Tax News
The revised stage 3 tax cuts are now law, and it is time to be proactive about your time planning. Find out how it will affect you here. Now that the revised stage 3 tax cuts have passed all stages of Parliament and received Royal Assent, the new rates are law and...
by Team Garnet | Mar 6, 2024 | ATO, Business Structures, Tax News
With the rise in businesses purchasing EVs for the use of their employees, the ATO has finalised its guidelines setting out the methodology for calculating the cost of electricity. Since the introduction of EV incentives by various state governments to encourage the...
by Team Garnet | Feb 10, 2024 | ATO, Business Structures, Tax News
Do you earn PSI? While most people may think that it only applies to builders or tradies, the truth is that may also apply to any instance where individuals use their personal effort or skills. Personal Services Income (PSI) generally only applies to individuals that...
