Couriers and Cleaners to Report Contractor Payments

Couriers and cleaners to report contractor payments The government will extend the taxable payments reporting system to contractors in the courier and cleaning industries, with effect from 1 July 2018. These changes were recommended in the Black Economy Taskforce that was released on Budget night. The expansion of this reporting system follows its successful implementation […]

Travel deductions for rental properties removed

Travel deductions for rental properties removed After 1 July 2017, the deductions for travel to residential rental property will be disallowed. In particular, the travel cost of attending inspections, maintain the property or collecting rent will be excluded. It is important to note here that the expenses will relate to travel only. A landlord can […]

Super guarantee not payable for salesperson

Super guarantee not payable for salesperson Section 12 of the Superannuation Guarantee Assessment Act 1992 (SGAA) deals with the question surrounding whether a worker is an employee or a contractor. Broadly speaking, the superannuation guarantee scheme will apply to an employee of an organisation, whereas an independent contractor will not. In relation to this section […]

Changes to intangibles depreciation

Changes to intangibles depreciation Recently, the federal government introduced new legislation where a taxpayer such as yourself can adjust the depreciation for your intangible or software assets. Currently, the intangibles must be written off of a certain number of years. With all intangibles or software developed or purchased from 1 July 2016, you have the […]