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Archive for category: Tax
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Employers exempt from FBT for retraining employees
Employers who deliver training to employees who are to be made redundant will now be exempt from fringe benefits tax after the legislation passed through Parliament.
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Work from home expenses under scrutiny & the perils of browsing Facebook
If you worked from home during lockdown and spent money on work related items that were not reimbursed by your employer, you might be able to claim some of these expenses as a deduction – but not everything you purchase can be claimed.
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ATO’s good-faith approach to crypto won’t last much longer
The ATO has upheld its good-faith approach to the accounting of cryptocurrencies, however it isn’t likely to last much longer.
For those involved in cryptocurrencies, now is the time to really pay attention to the current taxation rules before the ATO tightens enforcement of undeclared crypto assets.
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Winding-up: Simplifying small business insolvency
On 1 January 2021, new laws came into effect that introduce a new, simplified debt restructuring and liquidation framework for small business.
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The JobMaker Hiring Credit
Here at Paris Financial we strive to pass useful and timely advice onto all our small business clients – that’s why we believe we are the small business tax champions!
The following is our comprehensive summary of the recently introduced JobMaker scheme. If you need any further assistance or have any queries, please contact us.
Refunds for Tax Losses
If your company has made a loss, you may be able to claim a tax refund for tax previously paid on profits.
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JobKeeper: The Next Phase
The first tranche of JobKeeper ended on 27 September 2020. We look at the issues for those seeking to qualify for the second tranche of JobKeeper and for those no longer eligible.
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Has COVID-19 devalued your business?
If you are selling your business, merging, acquiring, or inviting in new investors, you need to understand the value of your business. But, to what degree does the pandemic impact on value? Should you discount or hold firm to pre COVID-19 performance on the basis that ‘we’re going to come out of it eventually’?
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