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The 2020/21 Federal Budget & what it means for you
Happy Wednesday, Today we wanted to help explain the latest changes to the Government’s 2020/21 Federal Budget. There’s been a lot of confusion around the budget and yes, trying to get your head around all the changes yourself can be overwhelming. Although a bit dry, stay with us as we do our best to explain the…
Read MoreCOVID-19 Stage 4 Restrictions & Jobkeeper
In light of last weekend’s COVID-19 restrictions update, we wanted to let you know that our office will remain closed however our team will continue working remotely from home. The news poses challenges and disappointment for many businesses across Victoria, however we remain committed to helping and supporting you as best we can. Although we…
Read MoreStage 4 Coronavirus Restrictions: Office Changes & JobKeeper Payments
Given the release of Stage 4 restrictions, we have some important information to share with you. Before we go into that, we wanted share our compassion and support for each of you who have been impacted by COVID-19. Whether it be closing your business or having lost your job. We understand that the next 6…
Read MoreClaiming Work-Related Expenses | Part 3 – Other Popular Deductions
Hello everyone, Continuing our series on work-related expenses, this week we wanted to talk about a couple of other popular items people try to claim in their tax returns. These include work-related travel, clothing, phone & internet, education and “working from home” expenses. If you have not read our first 2 articles of the series,…
Read MoreMyGov accounts are NOT compulsory | So, do you really need one?
In February 2020, legislation came into effect that requires all employers to start reporting their payroll through Single Touch Payroll from 1 July 2019. Employers were given until 30 September 2019 to start reporting without needing to apply for additional time. As an employee, these changes mean that your tax and super information is now…
Read MoreJobKeeper Extension: Here’s the details
JobKeeper Extension Update: Key Summary In case you hadn’t heard… The Government recently announced their intention to extend the JobKeeper Scheme post September (Yay!). This is great news, and will help to provide some additional relief for businesses and employees impacted by COVID-19 restrictions. Similar to the first round, there will be certain conditions that…
Read More5 Tax Myths that could delay the processing of your Tax Return this year
There’s no doubt that 2020 has been difficult. However, organising your tax return appointment in July may not give you with the benefits you’re after. In some cases, rushing in to lodge early (because you’re expecting a tax refund), can become a hindrance for you rather than an advantage. As adapted from Tax & Super…
Read MoreClaiming “working from home” expenses at tax time (2019-20)
Lately, we have been asked many questions relating to COVID-19 and how it will impact claimable deductions in the 2019-2020 Tax Year. The reality is that there are going to be some significant changes. Especially given many of you have incurred additional working from home expenses, that you wouldn’t typically experience in your normal working…
Read MoreOur Response to Coronavirus COVID-19
Given the latest updates relating to the Coronavirus (COVID-19), we wanted to let you know that we are on the “front foot”. Therefore, we expect no interruptions to the services we provide at Knox Tax. We will continue to be here to support you, your families and your businesses throughout this potentially stressful, difficult and uncertain…
Read MoreThe Revised Work Safe Workplace Manslaughter Policy | Are You at Risk?
Today, we’re going to be touching on a more serious topic: Workplace Manslaughter Yep! It’s not the prettiest of topics, but it’s something all business owners should be aware of when running a business. Especially in the industry of trades, hospitality, etc. Given Parliament recently passed a bill relating to the Workplace Safety Legislation amendments…
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