Yes, the Australian Taxation Office (ATO) requires you to keep records for any expenses you claim as a tax deduction. Generally, you must have a valid receipt or other proof... read more →
Before you can access the ATO Online Services for your business, you will need to setup access. As an individual, you can access all your personal details with the ATO... read more →
Lifetime Health Cover (LHC) is a government initiative that encourages you to purchase and maintain private patient hospital cover earlier in life. If you have not taken out and maintained... read more →
You may have to pay the Medicare levy surcharge if: you, your spouse and your dependent children do not have an appropriate level of private patient hospital cover; and you... read more →
The Medicare Levy is an amount you pay in addition to the tax you pay on your taxable income. The current rate is 2% of your total taxable income. Generally,... read more →
If you've received a notice from the ATO that you are now registered for PAYG Instalments, you might be wondering what that means. Firstly, it's good to note that PAYG... read more →
Your Notice of Assessment (NoA) is basically a summary of your tax return after it's been lodged. It shows: your taxable income, the amount of tax you need to pay... read more →
PAYG Withholding for Employees If you are an employee, your employer is required to deduct tax from your gross pay and pay this to the ATO on your behalf. This... read more →
STSL debts are interest free loans. So unlike credit cards or other loans you don’t get charged interest on the balance every month. However, the total amount of your STSL... read more →
Once you reach a certain income level, you are required to start making repayments towards your STSL debts. Each year, the ATO will publish the updated income thresholds as well... read more →