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North Advisory Accountancy Blog

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Uber travel expenses not FBT-exempt

Posted July 29, 2019 by North Advisory

The ATO has clarified that any benefit arising from travel by taxi, and not a ride-sourcing service, by an employee is exempt from fringe benefits…

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Personal income tax cuts now law

Posted July 8, 2019 by North Advisory

The Bill containing the three-stage personal income tax cuts package completed passage through parliament and is now law. The Treasury Laws Amendment (Tax Relief So Working…

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On 1 July 2019 your insurance cover may be changing!

Posted June 6, 2019 by North Advisory

In February this year, the Government passed legislation which prevents trustees of APRA-regulated funds from providing insurance to members with inactive superannuation accounts, unless a…

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ATO to target false laundry claims this Tax Time

Posted June 4, 2019 by North Advisory

The ATO will take strong actions against false clothing and laundry work-related expense claims this Tax Time. Assistant Commissioner Karen Foat said although many Australians…

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2018/19 tax changes for small businesses

Posted June 3, 2019 by North Advisory

Company tax cuts For 2018/19 income year, companies with an annual aggregated turnover under $50m will have a reduced tax rate of 27.5%. To be…

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Tax changes for 2018/19 for individuals

Posted June 3, 2019 by North Advisory

Change for low income tax offset and LAMITO A low and middle income tax offset (LAMITO) was introduced on 1 July 2018. The offset will…

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The Coalition wins a third term – your superannuation policy update in preparation for the end of the financial year

Posted May 22, 2019 by North Advisory

The Coalition Government has been re-elected in the 2019 Federal Election, with a small majority of seats in the House of Representatives, after taking a…

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The Major Parties’ Superannuation and Tax Policies

Posted May 16, 2019 by North Advisory

The federal election is this weekend, 18th May 2019 , both major parties have outlined their superannuation and tax policies. With the federal election only…

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Cryptocurrency ATO Data matching program

Posted May 6, 2019 by North Advisory

The Commissioner has given notice that it will collect data from cryptocurrency designated service providers, under notice, to identify individuals or businesses who have or…

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Federal Opposition Australian Labor Party (ALP) tax policies

Posted May 2, 2019 by North Advisory

Dividend imputation The Australian Labor Party (ALP) has announced an intention in government to change franking credits from a refundable to a non-refundable tax credit from 1…

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