From 1 January 2018, a vacant residential land tax applies to homes in inner and middle Melbourne that were vacant for more than six months in the preceding calendar year. This is a new Victorian tax, and is different to land tax, the absentee owner surcharge and the federal annual vacancy charge.
The vacant residential land tax is assessed by calendar year (1 January to 31 December) and the six months do not need to be continuous.
We have recently received a number of enquiries as to asset limits and types of assets that can come into account when looking at eligibility for the government aged pension. One of the best ways to answer questions in this area is checking out the Department of Human Services website which has detailed information in an easily accessible format. Check out the link below for more information on the aged pension:
Identity theft is on the rise in Australia and misuse of an individuals Tax File Number (TFN) is one way in which a scammer might seek to obtain an advantage by stealing your identity. Remember only a limited amount of entities can ask for your TFN, including the Australian Taxation Office, your employer, banks and similar institutions, and government bodies administering assistance payments such as Centrelink etc.
If you suspect your TFN has been stolen, the ATO recommends you call them immediately so they can monitor any suspicious activity that may occur. Please click on the link below to find out more:
Single touch payroll starts from 1 July 2018 for those business’ with 20 or more employees. You will be able to report your payroll information directly to the ATO from your accounting package whenever you make payments to employees. With every pay run you will report to the ATO, the salaries and wages, Pay As You Go Withholding and Superannuation. Your accountant, payroll provider or reporting software will let you know when they become Single Touch Payroll enabled. Business owners will need to do a headcount of the number of employees working for their business on 1 April 2018 this number will determine if you need to report to the ATO using Single Touch Payroll from 1 July 2018. Please click on the link below for more information:
