Jobmaker Hiring Credit coming to an end

We remind clients that the jobmaker hiring credit will be coming to an end on 6 October 2021. Therefore anyone hiring staff should consider doing this before this date.  You will need to check the eligibility of the business, and also the employees. 

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Property Investors on Alert with ATO Tax Traps

Due to the fact that in the 2020 tax year, $38 Billion has been claimed by Australian owned investment properties, the ATO have advised taxpayers of some of the common issues that can delay refunds, or cost taxpayers money in ATO audits. 

The items that happen on regular basis, are taxpayers not declaring all of the rental income they have earned, or forgetting to include capital gains on the sale of their investment properties.  The ATO track these property sales, and is likely to request further information if these items have been omitted in incorrectly reported in the tax returns.