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Backpacker Tax 15% ATO Deadline – 31st January

Contact us at Knox Taxation & Business Advisory on 9762 7344  …  If you feel this might apply to you, but you haven’t done anything about it yet! The ATO has put the word out to all current Backpacker Employers (or employers of working holiday makers) that the new tax rate of 15% became effective…

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Take It Or Annual Leave It at Knox Taxation and Business Advisory in Boronia

Time Out! Holidays, Public Holidays, Annual Leave & Annual Leave Cash-Out Policies. (And we’re not talking sticking your card in the ATM) Is your business pre-prepared? At Knox Taxation and Business Advisory in Boronia, we’re always striving to keep you in the loop and up-to-date with all things – and not just about your tax!  This…

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Winter Weather Workers

Cold Weather Work It doesn’t take a genius to work out that it’s been a tad chilly of late, and our warm and wondrous HR Consultant, Sheena Kane, has some timely advice to share about how to negotiate the temperature with your employees. READ ON: Much is written in Australia about working in the heat,…

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Federal Minimum Wage Latest News from Knox Taxation and Business Advisory in Boronia

Federal Minimum Wages & How to Determine What You Should Be Paying At Knox Tax, we’re here to help you understand the true whys and wherefores of this contentious topic, and also give you the guidance to get it right.  And if you find you need more information, don’t hesitate to get in touch with us on…

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A Weighty Issue

Obesity in the workplace isn’t a topic that gets talked about out loud very often. But with the statistics indicating that Australians are getting bigger, it is well worth covering some issues around this. First of all, obesity will be covered as a protected attribute under the Equal Opportunity Act (Vic) 2010 under the heading…

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Hired a “contractor” who is really an employee? There are consequences.

Written on Wednesday, 21 October 2015 by Steve Burnham. From the website Taxpayers Australia. If your business is looking to put on more staff, first of all: congratulations. But secondly, a warning. The engagement status of workers is an important distinction – whether they are employees or independent contractors – and has consequences that can get…

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Are my staff employees or contractors?

You may have heard that if your employees get ABNs and call themselves contractors, then you do not have to pay their Superannuation Guarantee, Work Cover and Payroll Tax.   If you think this sounds too good to be true, then you are spot on! What is the Government’s view? To truly be a contractor, you…

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The ATO are becoming more strict on under-reported income

ATO new credit and debit card matching project. Have you disclosed all of your income correctly?  Don’t wait until 30th June to rectify any anomalies. Contractors and Sub-contractors are being targeted in a new crackdown by the ATO, and they will be cross-matching businesses and payments between those of whom have worked for one another. The…

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ATR – Federal Budget. Headline Announcements that may impact you and your business.

The Federal Budget has tax implications that you should be aware of.  Here’s the latest news!  Check to see what affects you. INDIVIDUALS Deficit Levy – From 1st July, 2014, a deficit levy will be imposed on individuals with taxable incomes exceeding $180 000. From this date, the top marginal tax rate will increase by…

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Why Small Businesses Fail!

At Knox Taxation we love business start-ups and enjoy helping clients buy and develop a new business. However, a very large percentage of small business start-ups fail, so we thought that it would be worthwhile to highlight some of the most common reasons why! Common reasons for failure include: Lack of in-depth planning prior to purchasing/creating a new business Unrealistic expectations…

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