SKL Admin
JobMaker Hiring Credit: What You Need to Know
The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will...
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NEWS & UPDATES
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SKL Admin
Dec 2, 20204 min read
A Run-down of the New Loss Carry Back Measure
The last Federal Budget carried with it a number of tax changes that were designed to assist the Australian economy recover from the...
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SKL Admin
Oct 21, 20203 min read
FEDERAL BUDGET 2020-2021
Treasurer Josh Frydenberg delivered the Federal Budget for the 2020 – 2021 financial year on 6 October 2020. In light of the current...
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SKL Admin
Sep 25, 20203 min read
JOBKEEPER 2.0 UPDATES
With JobKeeper 2.0 now officially legislated, it is time to have a look at the finalised rules. Most basic rules are quite similar to the...
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SKL Admin
Aug 18, 20202 min read
JOBKEEPER 2.0 – What are the Changes?
As the current JobKeeper scheme will come to an end as of 27 September 2020, and the Australian economy is still being greatly impacted...
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SKL Admin
Jun 16, 20204 min read
YEAR END TAX SAVING TIPS
As we are fast approaching the end of the financial year, it is worth recapping some of the common tax saving tips: 1. Superannuation The...
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SKL Admin
Apr 17, 20205 min read
JOBKEEPER PAYMENT UPDATE
The bill that included the JobKeeper Payment Scheme has passed as law on 8 April 2020. The JobKeeper Payment is a wage subsidy that...
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SKL Admin
Mar 25, 20203 min read
GOVERNMENT’S ECONOMIC RESPONSE TO CORONAVIRUS
To assist the community coping with the economic impact of the current COVID-19, the federal government has announced series of measures...
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SKL Admin
Mar 16, 20203 min read
GST AND THE MARGIN SCHEME
For property developers, GST payable on the sale of properties can greatly eat in the profit. However, GST can be potentially reduced...
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SKL Admin
Feb 5, 20203 min read
DIRECTOR PENALTY NOTICE (DPN)
There are many responsibilities associated with being a company director. Sometimes, a director may receive a director penalty notice...
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SKL Admin
Dec 1, 20192 min read
RENTAL PROPERTY DEDUCTION – REPAIR VS. IMPROVEMENT
When it comes to claiming tax deductions for rental properties, it is essential to distinguish between repair and maintenance work and...
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SKL Admin
Oct 29, 20192 min read
CAPITAL GAINS TAX (CGT) ON INHERITED PROPERTIES
Disposal of a property that is not your main residence the whole time usually attracts capital gains tax (CGT). However, there are...
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SKL Admin
Sep 27, 20194 min read
Family Trust Election
We often hear people calling a discretionary trust a family trust, but strictly speaking a discretionary trust only becomes a family...
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SKL Admin
Aug 27, 20192 min read
LANDHOLDER DUTY (VICTORIA)
We all know that selling a piece of land in Victoria will attract stamp duty, but what about if the land is owned by a company and it is...
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SKL Admin
Jun 23, 20192 min read
SINGLE TOUCH PAYROLL UPDATE
With the single touch payroll (STP) system already mandatory for employers with 20 or more employees and now expanding to small employers...
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SKL Admin
May 27, 20193 min read
COMPANY TAX LOSS RECOUPMENT RULES
Companies incur tax losses from time to time and would benefit from being able to use these losses to reduce future income. Generally...
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SKL Admin
Apr 18, 20193 min read
Vacant residential land tax VS Absentee owner surcharge VS Federal annual vacancy fee
Vacant residential land tax, absentee owner surcharge, federal annual vacancy fee, are you confused yet? You are not alone. All these...
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SKL Admin
Mar 18, 20191 min read
Rules for claiming deductions for payments to workers are changing
Rules for claiming deductions for wages and other payments to workers and business owners themselves are changing. From 1 July 2019,...
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SKL Admin
Jan 31, 20192 min read
Property development case update
S M Ho & K W Loh & T T Low & W W Orr and FCT [2018] AATA 3911 There is a recent case involving going concern, margin scheme and other...
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SKL Admin
Nov 22, 20181 min read
Vacant Residential Land Tax
From 1 January 2018, homes located in 16 specific council areas that are left unoccupied for more than six months of the previous...
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