The ATO Is Cracking Down On “Copy-Paste” Expense Claims
The Australian Tax Office (ATO) has given a warning to taxpayers who choose to “copy-paste” work related expense claims, like those accumulated when travelling between work sites, or laundering uniforms, while they have been working from home. Although the majority of Australians are doing the right thing, the ATO has reassured tax payers that the […]
Business Advice For Australians Wanting To Become A Sole Trader
If you are someone who has a great idea or an original product and a clear idea about who your customers will be and want they want then you might have the potential to be a successful sole trader. It is important to be aware of the fact that 60 percent of small businesses fail […]
The Average Australian Workers Earns Just Over $60,000
Recently published data from the Australian Tax Office (ATO) has revealed that the average salary in Australia is just over $60,000. Figures from the 2018-19 financial year showed that the average salary for Australians who submitted tax returns was $63,085. This is an increase up from $1634 recorded in the previous year. The median reported […]
Business Credits Defaults in Australia Increase By 9 Percent
It has been revealed by CreditorWatch that some of Australia’s economic recovery has slightly lost a bit of its momentum, as it has recorded a 9 percent increase in credit defaults across businesses. Recently released figures show that despite the fact that although credit defaults were 43 per cent lower for the three months to […]
Australia’s Unemployment Is the Lowest It’s Been Since February 2020
Recently released figures from the Australian Bureau of Statistics (ABS) has shown that Australia’s unemployment rate is continuing to fall. The latest data shows the unemployment rate dropping 0.4 percent points to 5.1 percent during the month of May 2021. The figures published by the ABS revealed that approximately 115,000 Australians found new positions of […]
1 In 3 Australians Are Currently Looking For A Career Change
Newly published research illustrates that as many as 38 percent of Australian workers intent to quit their jobs over the new 12 months. This same survey revealed that a further 39 percent of workers admit to being open to new opportunities. Some of the reason’s workers were keen to look for new positions of employment […]
ATO Offers Help To Australians Impacted By Covid-19 and Natural Disasters
The Australian Tax Office (ATO) acknowledges that workers across Australia continue to face huge challenges in regards to the covid-19 pandemic and various natural disasters which have occurred over the past 12 months. Here is some advice to help Australian taxpayers prepare for the upcoming End of Financial Year. JobKeeper JobKeeper payments are not tax […]
Insolvency Rates in Australia Expected to Increase By 10% This Year
In comparison to the rest of the world, Australia appears to have dodged a bullet when it comes to business insolvencies, but it is not out of the woods just yet. Despite the Australian government’s temporary support measures, insolvencies are expected to rise by 10 percent this year and potentially increase by another 10 percent […]
Businesses Can Expect Faster Payments and Savings When Compulsory E-Invoicing Starts In NSW
Businesses across New South Wales can expect to see quicker savings and payment times once mandatory e-invoicing is introduced for all government agencies across the state on 1st January 2022. It will it will bring a host of other benefits for small and medium businesses when sending and receiving invoices to the government. The implementation […]
Common Tax Deductions Available for Sale Professionals
There are a number of common tax deductions available for sale professionals. It is important that you are aware of what you are eligible to claim so that you can get the most out of your tax return. Whether you are a real-estate agent, car sales person or sales rep, working in sales can […]
