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January 2019 Archives - Tax with Integrity

Monthly Archive for: ‘January, 2019’

Global outlook summary: Down but not out

Global Outlook 2019

Down but not out As the global economy enters its tenth year of expansion following the global financial crisis, concerns are growing that a recession may be imminent.

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Bookkeepers remind on incoming TPRS obligations

Bookkeepers Tprs

With the taxable payments reporting system now set to cover five different industries, in-house and external bookkeepers have been urged to start ensuring business clients start keeping records of contractor payments.

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Golden Rules for Deductions

Golden Rules Depreciation

            The Australian Taxation Office now uses sophisticated data analytics to assess a range of deductions and claims.  Taxpayers must follow three golden rules when making a deduction: the taxpayer must have spent the money (and not been reimbursed); the claim must be directly related to earning the taxpayer’s income; they must keep records to prove …

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How’s Australia going – vital statistics?

Australia Vital Statistics Jan 19

            Please click on the following link to see all this interesting information. The areas covered are: Overview Markets GDP Labour Prices Money Trade Government Business Consumer Housing Taxes Climate   Access all this data here.   tradingeconomics.com

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Tax, SMEs set to be ‘political football’ in 2019 as election nears

Smes Political Football

Small and medium businesses are set for a busy year of tax promises as political parties look to sway voters ahead of a Federal Election, says one mid-tier.

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Cap lifted on popular financing option for clients

Cap Lifted Interest Only Loans

APRA will remove its cap on interest-only loans from next year, a move which is set to open more financing options for clients in 2019.

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Expiry of 900,000 interest-only loans set for January

Interst Only Closing

If you feel a bit aggrieved by having to move away from a workable interest only loan then you won't be alone.  Apparently there are 900,000 loans in the same boat!

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Australian Taxation Office (ATO) Scam Alert: Fake Demands for Tax Payments

Beware Ato Scam

            The ATO has noticed an increasing trend of scammers demanding tax payments through Bitcoin and ATMs. The ATO’s advice is simple; it will never ask a person to make a payment into an ATM or via gift or pre-paid cards such as iTunes and Visa cards or ask for direct credit to be paid …

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Tax with Integrity

Tax with Integrity