Uber, Taxis and Quacking Ducks

An announcement (tactfully called “advice”) by the Tax Office gave Uber operatives until 1 August 2015 to register for GST on fare earnings. Perhaps predictably, Uber reacted furiously to the ultimatum by essentially arguing that this is an unwarranted attack on micro-businesses. Under the GST rules generally, businesses don’t have to register for GST and lodge BAS returns unless earnings reach a threshold … Read more

Updating motor vehicle expense claims

Assistant Treasurer Josh Frydenberg has flagged changes to motor vehicle tax deduction claims: the 12 per cent of original value and one-third of actual expenses incurred calculation methods are to be discontinued, and the cents-per km rate is to be set at a flat average rate of 66 cents per kilometre, regardless of vehicle engine … Read more

PAYG Thresholds For Small Business and Individuals Get Long Over-Due Face-Lift

In the first overhaul of thresholds in more than a decade, the Small Business Minister Bruce Billson has announced a significant review of PAYG thresholds and activity statement compliance requirements. Requirements to pay tax as you go by instalments are triggered when business or investment income goes over certain thresholds, determined from information in previous … Read more