income tax

  1. Jack Malarkey

    ATO: Having trouble paying?

    From the Australian Taxation Office’s Small Business Newsroom: Having trouble paying? 25 October 2019 Even if you can’t pay right now, talk to us so we can help. We may be able to offer you a payment plan tailored to your needs by taking into consideration your circumstances, and your...
  2. Jack Malarkey

    ATO: correcting tax mistakes

    From the Australian Taxation Office’s Small Business Newsroom: Need to fix something? 30 October 2019 As a small business owner you have a lot on your plate, including your tax and super responsibilities. It can be difficult to get everything right and sometimes mistakes happen. However...
  3. Jack Malarkey

    ATO: Low and middle income tax offset changes now law

    From the Australian Taxation Office’s Small Business Newsroom: Low and middle income tax offset changes now law 2 August 2019 You will be entitled to some of the low and middle income tax offset if your individual taxable income is less than $126,000. The maximum offset is $1,080 per annum...
  4. Jack Malarkey

    Loading zone permit (10 minutes) now costs $215.20 per year

    The cost of an ACT annual loading zone parking permit for 10 minutes at a time has been $215.20 since 1 July 2019 (up from $209). Obtaining a loading zone parking permit is something that Uber Eats delivery drivers should definitely consider and particularly so if they operate in the CBD or...
  5. Jack Malarkey

    ATO: Cars and various tax thresholds

    From the Australian Taxation Office’s Small Business Newsroom: Cars and tax From 1 July 2019 the following car threshold amounts apply. Income tax There's an upper limit on the cost you use to work out the depreciation for the business use of your car or station wagon (including four-wheel...
  6. Jack Malarkey

    ATO: New (financial) year, new you!

    From the Australian Taxation Office’s Small Business Newsroom: New (financial) year, new you! 2 July 2019 As you gather your records this tax time, think about what has or hasn't worked well over the year. Make a new (financial) year resolution for your record keeping practices that's easy to...
  7. Jack Malarkey

    ATO: Running your small business from home?

    From the Tax Office’s Small Business Newsroom: Running your business from home? 2 July 2019 If your home is your main place of business, you may be able to claim the business portion of some of your expenses such as: electricity cleaning mortgage payments rent payments. It can be tricky...
  8. Jack Malarkey

    ATO: Earning income from ride-sourcing?

    From the Australian Taxation Office’s Small Business Newsroom: Earning income from ride-sourcing? 3 July 2019 Did you know, income earned from providing ride-sourcing services is assessable and must be included in your tax return? Whether you use a registered tax agent or prepare your own...
  9. Jack Malarkey

    ATO assesses taxi drivers at $1.30 per kilometre where proper records not kept

    Australian Taxation Office: Taxi cents per kilometre earnings rate The cents per kilometre earnings rate is the average amount of income earned by a taxi for the total kilometres travelled by the taxi in a year. The rate includes GST. It does not take expenses into account. It only measures...
  10. Jack Malarkey

    Tax cut package passed by the House of Representatives and the Senate

    Below is an overview from government relations firm Barton Deakin of the federal Government’s tax cut package, which is now awaiting Royal Assent after being passed by both the House of Representatives and Senate. The first stage of the tax cuts will affect tax returns now being lodged for the...
  11. Jack Malarkey

    ATO makes public statement about income tax and GST treatment of Uber’s ‘driver appreciation awards’

    The Australian Taxation Office has made the following public statement about the income tax and GST treatment of Uber’s ‘driver appreciation awards’: Uber 'driver appreciation reward' payments In April 2019, ride-sourcing platform, Uber, paid some of its drivers a 'driver appreciation reward'...
  12. Jack Malarkey

    ATO: Preparing for tax time

    From the Australian Taxation Office’s Small Business Newsroom: Ready, steady… 11 June 2019 The end of the financial year is just around the corner, but it doesn't have to be a race against the clock for your business. Whether you prepare your own return or use a registered tax agent, get...
  13. Jack Malarkey

    ATO: Work out what business expenses you can claim

    From the Australian Taxation Office’s Small Business Newsroom: Work out what business expenses you can claim 21 May 2019 You should apply these three golden rules when claiming business expenses to help get it right: The expense must have been for your business – not for private use. If the...
  14. Jack Malarkey

    ATO: $30,000 instant asset write-off

    From the Australian Taxation Office’s Small Business Newsroom: $30,000 instant asset write-off 21 May 2019 Thinking of purchasing assets for your business? The instant asset write-off threshold has been increased to $30,000 and extended to 30 June 2020. If you purchase an asset (new or...
  15. Jack Malarkey

    Instant asset write-off threshold now $30,000 and extended to 30 June 2020: NOW LAW

    Parliament has enacted important changes to the income tax law relating to the threshold for the instant asset write-off that will benefit rideshare drivers. The relevant amending Bill received Royal Assent on Saturday 6 April 2019 and is now law. The instant asset write-off threshold below...
  16. B

    GST on purchase

    If I buy a car for $16,000 on 01/12/2018 and do UBER. Can I put it as GST on purchases at the end of this GST quarter which is 31/12/2018?
  17. Jack Malarkey

    ATO: Can’t lodge on time?

    From the Australian Taxation Office’s Small Business Newsroom: Can't lodge on time? 21 November 2018 Running a business has many competing priorities and we understand you get busy and getting your tax work done is just another thing you need to get around to. This is one of the reasons why...
  18. Jack Malarkey

    ATO: Confused by motor vehicle expenses?

    From the Australian Taxation Office’s Small Business Newsroom: Confused by motor vehicle expenses? 20 November 2018 Working out motor vehicle expenses for your business can be tricky. We've created a fact sheet to help you get your motor vehicle expenses right. Our Small business motor...
  19. Jack Malarkey

    Foreshadowed small business tax changes to benefit rideshare drivers

    On Thursday 11 October 2018, the Prime Minister, the Hon Scott Morrison MP, and the Treasurer, the Hon Josh Frydenberg MP, foreshadowed changes to the income tax treatment of small and medium businesses: http://jaf.ministers.treasury.gov.au/media-release/027-2018/. The announcement mainly...
  20. Jack Malarkey

    ATO: Lodging a tax return for your business

    From the Australian Taxation Office’s Small Business Newsroom: Lodging a tax return for your business 29 August 2018 You have a choice in how to lodge your tax return. You can lodge: through a registered tax agent - contact them by 31 October if you haven't lodged with them before online...
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