Salary Sacrificed Cars

You cannot claim a tax deduction for a car you have salary sacrificed even though you make an after tax contribution. If you really want to know, here is why: Download Pdf Unless the employee is in the maximum tax bracket, there will be a pre tax amount and a post tax amount on their …

PSI – Contractors Splitting Income

So You think You Are A Contractor and Can Split Income? The Three Stages of Being a Contractor: Qualifying for an ABN – You need to be an enterprise, more than just providing your labour. A ute may help if it is fundamental to your income producing activities but a station wagon or sedan won’t …

Allowances on PAYG Summaries

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  Help your employees give the ATO a raspberry to their new draconian bully tactics on reasonable allowances. This blog is both for employers and for employees who have read our article on travel allowances https://bantacs.com.au/Jblog/reasonable-allowance-concessions-effectively-abolished-by-the-ato/#more-159 If you are the latter make sure you give your employer a copy of this, so they can do …

How to make your own super contributions

If you want to make a superannuation contribution and claim it in your 2019 tax return you best get a wriggle on. The contribution has to be safely in the superannuation fund by 28th June as the 30th is a Friday. This post addresses the practicalities of making the contribution and dealing with the $25,000 …