by Ben Smith | May 24, 2023 | Accounting & Audit, Featured
The end of Temporary Full Expensing (“TFE”) and the new $20,000 Instant Asset Write-Off (“IAWO”) The TFE measures previously implemented will end for all eligible assets installed and ready for use on 30 June 2023. Small businesses with an aggregated turnover of less...
by enquiries@rm.net.au | Apr 26, 2023 | Accounting & Audit, Featured
The FBT year ended on the 31 March 2023 and there are a few things that need to be done to ensure that your business meets all the obligations. If you’re lodging your FBT return yourself, this will be due 21 May 2023, but if your Tax Agent lodges your FBT return...
by jocelyn.berry@rm.net.au | Apr 26, 2023 | Accounting & Audit, Featured
The Australian Taxation Office (ATO) has announced changes to their fixed rate method for claiming work from home expenses, effective from the 2022-23 income year. The new fixed rate per hour has increased from 52 cents to 67 cents, and the temporary COVID rate will...
by jocelyn.berry@rm.net.au | Mar 22, 2023 | Accounting & Audit, Featured
No one wants a surprise when it comes to their tax obligations! With the March BAS soon to be prepared it is an appropriate time to talk to your accountant about year-to-date results and look at long term opportunities. Reduce tax liability: One of the primary reasons...
by Ben Smith | May 18, 2022 | Accounting & Audit, Business Intel, Financial Planning, SMSF Specialists, Tax & Estate Planning
There have been some important changes to MYOB subscription payments. Up until this point, Roberts & Morrow have managed your subscription (practice pays) however we are streamlining the MYOB process and arranging subscription payments...
by Ben Smith | Apr 20, 2022 | Accounting & Audit, Business Intel, Featured, SMSF Specialists
Two landmark cases before the High Court highlighted the problem of identifying whether a worker is an independent contractor or employee for tax and superannuation purposes. Many business owners assume that they will not be responsible for PAYG withholding,...
