With all the new technologies nowadays it is becoming more challenging for us keep on top of the technological advances, let alone new ways internet criminals (or often called scammers) can steal our money. In this article we will dig into a few common ways scammers can attempt to take our hard-earned dollars through emails, and also provide suggestions of what you can do (as an individual, or as a business owner) to reduce your exposure to scammers.
The following examines some common misunderstood rules around the employee vs contractor situation.
Myth: I have an ABN so I am a contractor.
You may have an ABN but that does not make you a contractor.
Fact: The ATO has various checks to ensure business owners are treating their staff/contractors correctly.
To put it simply, the ATO will look at the work arrangement and the way the payments were calculated etc to determine whether one is an employee or not.
The Government has released a Fact Sheet on their plan to encourage older people to downsize from homes that no longer meet their needs and to free up housing stock for young families starting out.
From 1 July 2018, older Australians will be provided with greater flexibility to contribute the proceeds of the sale of their home into superannuation, reducing a current disincentive to downsizing.
Read the Fact Sheet Here.
When investing in a rental property, or wishing to invest in a rental property, you’ll need to keep records right from the start and work out what you can and can’t claim as a deduction.
What can you claim?
Are you always on the road for work?
Whether you are an employee or a business owner, at some point of your career you may require use of your vehicle for work/business purposes to travel between office/work sites. You may be eligible to claim your car expenses in your tax return. But…