Tax

Arabon Accountants national minimum wage increase

Fair Work Commission announces 5.2% national minimum wage increase

The national minimum wage will increase to $812.60 per week, or $21.38 per hour, after a decision by the Fair Work Commission exceeds the government’s suggested 5.1% increase. The Commission decided to increase modern award minimum wages by 4.6% subject to a minimum increase for adult award classifications of $40 per week (full-time). The increase …

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Arabon Accountants top tips for tax time 2022

Top tax tips for businesses and individuals to prepare for your 2022 tax return

With the end of financial year only a month away, it is time to get your tax affairs in order and be aware of what opportunities may be available to maximise your tax deductions for the 2021-22 financial year.  In this article, we highlight some of our top tax tips for businesses and individuals to …

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Arabon Accountants four key priorities for ATO this tax time

Four priorities for the ATO this tax time

The Australian Taxation Office (ATO) has announced its 2022 tax-time hit list.  The four priorities for the ATO this tax time are: Record-keeping Work-related expenses Rental property income and deductions Capital gains from crypto assets, property and shares ATO assistant commissioner Tim Loh said the ATO was targeting problem areas where it saw people making mistakes. …

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Arabon Accountants Federal Budget

Australian Federal Budget 2022/23: the wins for small business

The Federal Treasurer Josh Frydenberg handed down the 2022–23 Federal Budget on 29 March 2022. In an economy emerging from the pandemic, the Treasurer confirmed an unemployment rate of 4% and an expected budget deficit of $78 billion for 2022–23.  As international uncertainties add pressure on the cost of living, key measures in the budget …

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Arabon Accountants tax changes 1 July 2021

Tax changes and updates from 1 July 2021

The new financial year has arrived and so has several updates to the tax system and new policies impacting superannuation, healthcare, wages and tax rates.  Here’s what you need to know post 1 July 2021. Superannuation payments to increase Working Australians will receive a 0.5% boost to their superannuation fund.  Legislation requires superannuation contributions to …

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