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Thank you for trusting us with your tax matters in the past. For many of you, we have been providing service since last 20 years.   We invite you once again… like last year, to avail of our income tax preparation service.

Thank you for trusting us with your tax matters in the past. For many of you, we have been providing service since last 20 years.   We invite you once again… like last year, to avail of our income tax preparation service.

2022 TAX HIGHLIGHTS June 2022 BUDGET ANNOUNCEMENTS The 2022 Federal Budget (Budget) was handed down on 29 March 2022. The Budget was predominantly an election Budget, having been brought forward from the traditional May release to account for the Federal Election in May 2022. The main revenue initiatives that have an immediate impact are: X [...]

RATES OF MEAL ALLOWANCE, MOTOR VEHICLE – CENT PER KILOMETERE AND LUXURY CAR LIMIT 

Income tax – what are the reasonable travel and overtime meal allowance expense amounts for the 2021-22 income years?

Claim must be allowable – A deduction claim cannot exceed the amount actually incurred for work-related purposes

Resident taxpayers may be liable for a Medicare levy surcharge (‘MLS’) of 1%, 1.25% or 1.5% (i.e., in addition to the 2% Medicare Levy) for any period in an income year when they did not have an appropriate level of private patient hospital cover for themselves, their spouse and dependent children (subject to certain exceptions [...]

From 1 July 2020, all study and training loans are covered by one set of thresholds and rates.

In addition, the hierarchy in which compulsory repayments are applied to study and training loans, was changed to HELP, VSL, SFSS, SSL,
ABSTUDY, SSL, TSL