The ATO is reminding taxpayers that, due to the shift to the Single Touch Payroll system, they may not receive a payment summary directly from their employers this year as this information (income statements) will be pre-filled into their income tax return or provided to their registered agent.
The latest Self Managed Superannuation update from Bush & Campbell, including: Extension of time for SMSF tax lodgement, Re-Cap of contributions for the 2018 Financial Year, Reminder to pay pensions before 30 June 2019 and more.
Effective tax planning is something that should be considered year round and making it a priority can result in you paying less tax liability. Preparing and updating a forecast of income and outgoings can also help you and your business identify times when money may be short and plan accordingly.
While the Budget has placed a strong focus on business and growth of the economy, the Government is also making sure to address the needs of those in the community who have faced hardships and fallen behind in recent years.
NSW Farmers’ Drought Network has launched a page to provide service information, links to assistance and services to individuals and families conducting, directly or indirectly, primary production businesses, who are being impacted by drought conditions in NSW.