Tuesday 24 Apr 2018
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Latest Accounting News
Hot Issues
Single Touch Payroll – 1 April 2018 Action
Property investors on notice after ATO spots false claims
ATO issues update on cryptocurrency compliance traps
Australia's vital statistics
Accountants spy elder abuse spike as mortgage stress sets in
Tax office releases fresh guidance on SMSFs
Labor's tax plans could favour the rich, analysis shows
FBT Reminder – Odometer Reading
Our website is really our digital office.
‘Substantiation will be a key focus’: ATO drums in tax time 2018 hit list
Super changes: $1.6 million transfer balance cap and death benefit pensions
Payroll, compliance issues top dodgy practices in Aussie business
Employee travel expense deductions
The Goldilocks effect - Economic and market update 4Q 17
Tax assessments confirmed for undisclosed business income
Super returns on the up despite clients’ hesitation
Australia. All you need to know to be the expert.
Business confidence hits 5-month high: NAB
Caution advised on best interests duty with cryptocurrencies
$20,000 asset write-off renewed for another financial year.
SMSF compliance traps with bitcoin
Where Australia is at. Our leading indicators.
Foreign resident CGT withholding: early recognition of tax credit
ATO set to doorknock as 60% of cash-heavy businesses caught
New downsizing cap available
Articles archive
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Quarter 4 October - December 2001
Quarter 2 of 2009
Articles
Rebate Income - New Concept
Family Tax Benefit (FTB) - Change to delivery of
Individual's - Income Tax Rates
Senior Australians Tax Thresholds
Research and Development Tax Concession
Finer Details Investment Allowance
PAYG Instalments - Are You Paying Too Much?
Working Australians Tax Bonus Administration

Budget 2009 - 10  -  Overview, Summary, Papers.

30% Investment Allowance - One time window of opportunity
Plant & Equipment or Fixtures & Fittings?
The Road to Recovery
Will we see more Bankruptcies or Part X's?
Small Business Tax Break
PAYG Instalments - Are You Paying Too Much?
In the current economic climate, there has been a downward trend in earnings, so Pay As You Go (PAYG) instalments should be reviewed.

Taxpayers that use the instalment rate method for their PAYG instalments could end up paying more than their expected tax liability for the 2008-09 income year.  But you are entitled to vary the PAYG instalment rate to ensure that the correct amount of tax is paid.

Overpaid instalments from previous quarters can then be applied to meet the current PAYG instalment.  Don't forget that the December 2008 quarter instalment was reduced by 20% for many taxpayers.

A taxpayer may be liable to pay an incorrect variation general interest charge where the varied instalment rate is less than 85% of what should have been used.

 

 

 

 



22nd-May-2009
        
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