If you are undertaking R&D that is eligible under the R&D Tax Incentive (R&DTI) program, you can claim a refund from the Australian Government. But how do you know if you have eligible R&D? This is actually trickier than it sounds because you need to recognise that you have a potentially eligible piece of R&D…Read More

Several measures of relevance to the migration sector were announced in the recent Federal Budget:Read More

Under the responsible budget regime of the government which became law on 1 January 2017, backpackers are taxed at 15% for earnings of up to $37,000 with the balance taxed at ordinary rates. This tax rate is applicable for people who hold either a working holiday visa subclass 417 and 462.Read More

Single touch payroll (STP) is an initiative by the Australian government which requires all employers to report their employees’ payroll information electronically to the ATO portal for each payroll cycle, whether this be weekly, fortnightly or monthly.Read More

The ATO has deferred the requirement for large companies and corporate groups to lodge their Reportable tax position (RTP)[1]  until the 2020-2021 financial year. This has been done after consultation and support from private groups stewardship group.Read More

On 24 May 2018 the government announced a one off 12-month superannuation “amnesty” guarantee which gives employers one off opportunities to disclose any errors in superannuation guarantees to the ATO without the risk of bring penalized. This bill was reintroduced on 18 September 2019 with an amnesty beginning on 24 May 2019.Read More

In 2017, The government announced changes to deny foreign residents’ access to the capital gains tax (CGT) main residence exemption.Read More

The government has introduced a housing affordability bill where CGT main residence exemptions will come in to place for foreign residents. Schedule 1  of the bill amends ITAA 97  which will:Read More

A new bill will come into effect from 1st January 2020 which imposes a restriction on entities dealing with cash transactions. Important highlights from the bill are as follows:Read More

Occupations for Subclass 494 visas The Government has released a new Legislative Instrument that lists the eligible occupations and ANZSCO codes for the new 494 visa. These lists for the SC 494 are made up of the Medium and Long-term Strategic Skills List (MLTSSL), and the Regional Occupation List (ROL). There is a total of…Read More