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Instant asset write-off threshold set to increase to $25k

Prime Minister, Scott Morrison has pledged to increase the small business instant asset write off to $25,000 (up from $20,000). The write-off will be available for small business with an annual turnover of less than $10 million and will apply until 30 June 2020. The government will be seeking to legislate the change when Parliament…
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Rate for home office expenses increased

The home office running expenses hourly rate has been increased to 52c per hour, up from 45c per hour, effective from 1 July 2018. The rate per hour method for home office expenses includes all the items that a tax payer can claim as a home office running expense, such as lighting, heating, cooling, cleaning…
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Are you ready for Single Touch Payroll (STP)?

The ATO will shortly be contacting small employers who have 19 or less employees and who already use payroll software to advise them that they don't need to wait for legislation to pass before they start reporting through STP. The bill proposing to extent STP to employers with 19 or less employees from 1 July…
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Record-keeping and pay slips

It is vital for employers to keep accurate payroll records to keep track of how their business is going and also to meet their legal obligations. Fair work have released a short course that will teach you how to make, update and manage employment records. Record Keeping and Payslip Course
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