our latest news

Industry News

As Tax Time Nears….An ATO Scammer Appears!

I’m sure that most of you are aware that tax time is around the corner. But did you know that this is also a very popular time for ATO Scammers? Recently, it was National Scam Awareness Week. It came at a very convenient time reminding us to be aware and careful of threat-based impersonation scams…

Look out! The ATO is Cracking Down – Company Cars & Fringe Benefits Tax

Do you drive a company car or own a company registered vehicle? If so, please take note of the Fringe Benefits Tax (FBT) updates highlighted below. The Australian Tax Office (ATO) have recently warned about tightening-up on their approach towards people who own vehicles through their businesses – particularly, employers and tradies. Even if your…

Changes to Personal Super Contributions & Deductions

Note: This information is for people who: Make personal super contributions from their income after tax (this does not include contributions made under a salary sacrifice arrangement and compulsory super paid by your employer), and Want to claim a deduction for these contributions. Since the 1st July 2017, the eligibility rules for claiming a…

IMPORTANT UPDATE – Single Touch Payroll (STP)

As of Sunday last week (1st of April, 2018), all businesses were required to count the number of current employees on their payroll. This is in preparation for the introduction of Single Touch Payroll (STP) updates by the 1st of July 2018. If you missed this deadline and haven’t counted your employees yet, you can base…

PRIVACY POLICY IMPORTANT UPDATES – Are you protected?

Knox Taxation & Business Advisory, in Boronia, wishes to advise you that, as of the 22nd of February, 2018, any Australian businesses that fall (or have fallen) victim to a data breach causing a risk of serious harm to individuals, or has received a high level of media attention, must notify the Office of the…

ATO TAX DEBT MAY AFFECT YOUR CREDIT RATING

The ATO has issued a new directive that has been in the wind for a long time – but now it’s OFFICIALLY on the table and we’d like you to know about it. Whilst you might ask us the questions about this, we can’t promise you’ll like the answers we give you, but we feel…

Your Winter Newsletter From Knox Tax

Get the latest in Tax Change News, Benefits to Behold, & Stuff to be AWARE of – at Knox Taxation & Business Advisory in Boronia. The ever-evolving changes to the ATO directives confuse our Sole Traders, Small Business Owners and expanding business owners alike. There are grey areas, black spots and bonuses to be had…

Audit Insurance Vs Accounting Insurance

ATO AUDIT COSTS ARE NOT ALWAYS COVERED IN ACCOUNTING INSURANCE Knox Taxation & Business Advisory, in Boronia, want to ask you some very important questions – 1. Have you checked your Accounting Insurance Policy lately? We know you’ll have received your Accounting Insurance Policy (or are about to) for the new Financial Year. Where you…

New Federal Budget 2017-2018 Review Information From Knox Tax in Boronia

The 2017-2018 Federal Budget is in and you’re all wondering what to make of it, we’re sure. But, here at Knox Taxation & Business Advisory in Boronia, we’re available to help you navigate through what the new Federal Budget directives are. Do take the time to read through the following summary and don’t hesitate to…

Fair Work Commission Penalty Rates Update

There’s been a lot of publicity about changes to the Hospitality and Retail Industry Penalty Rates, attributed to decisions made by the Fair Work Commission in late February, 2017. We, at Knox Taxation & Business Advisory, are pleased to bring you the latest information from our HR Specialist, Sheena. Fair Work Commission Penalty Rates Decision…