Medicare levy reduction for low-income earners
Medicare levy reduction for low-income earners Your Medicare levy is reduced if your taxable income is below a certain threshold. In some cases, you may not have to pay the levy at all. The thresholds are higher for low-income earners, seniors, and pensioners. If your taxable income is above the thresholds, you […]
Top tax time myths for 2020
Don’t let these Tax Time myths slow down your return At a time when many people want the tax refund that they are expecting to arrive quickly, the Australian Taxation Office (ATO) is warning people not to get tripped up by tax time myths that slow down returns. Usually, tax returns lodged electronically are […]
2020 Income Types and treatment
2020 Income Types and treatment  JobSeeker: how to treat in tax return JobSeeker payments are taxed. The ATO will automatically load this information into the ‘government payments and allowances’ section in your tax return, but it will not necessarily be there from July 1. This means if the information is […]
Work from home – Shortcut method
Work from home – Shortcut method ATO has introduced a shortcut method to simplify how you calculate your deduction for working from home. This method is temporary and only available for the period 1Â March to 30Â June 2020. All employees working from home in this period can use this method. Using this method, […]
JobKeeper – Business monthly declaration
JobKeeper – Business monthly declaration If you have enrolled for the JobKeeper Payment and identified your eligible employees, you need to make a business monthly declaration to the ATO. You will be able to do this from the 1st to the 14th day of each month, to receive reimbursements for the payments you […]
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