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23
May
  • Posted By : Administrative
  • Category: General Tax Topic
  • Comments: 0

PAYG INSTALMENTS AND WHO NEEDS TO PAY PAYG INSTALMENT

PAYG Instalments The Pay as You Go (PAYG) instalment system is a program of pre-paying tax instalments towards your expected tax liability on your business and investment income. It is the ATO’s w...

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23
May
  • Posted By : Administrative
  • Category: Income
  • Comments: 0

PERSONAL SERVICE INCOME

When an individual receives income that is mainly a reward for his/her personal efforts or skills, they may fall within the Personal Service Income (PSI) rules. To be excused from the rules, the busin...

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23
May
  • Posted By : Administrative
  • Category: General Tax Topic
  • Comments: 0

TAX ON GOVERNMENT ASSISTANCE, ALLOWANCES AND PAYMEN

As an individual taxpayer if you received any government assistance, allowances and payments you are entitled to a beneficiary tax offset. So if you are getting one or more number of allowances, benef...

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23
May
  • Posted By : Administrative
  • Category: Deductions
  • Comments: 0

DEDUCTIONS FOR GIFTS AND DONATIONS

Gifts and Donation As a citizen of Australia you may have some confusion whether tax is deductable or not for the donation or gift you make to an organisation. Claim in such deduction is applicable ...

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23
May
  • Posted By : Administrative
  • Category: General Tax Topic
  • Comments: 0

DEPRECIATION ON YOUR INVESTMENT PROPERTIES

Your home is usually exempt from tax. But if you have an investment property there may be implications for income tax, capital gains tax and goods and services tax (GST). Depreciation is the reductio...

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