Welcome to the Porters CA Blog.

Please enjoy our regular blog of relevant business, taxation and financial information. You can also follow us on Facebook, Instagram and Twitter.

Federal Budget 2020: What it means for you

The Federal Budget was released on Tuesday 6th October. We have summarised what we feel is most relevant information for clients of Porters CA. If you would like to read more about the “Winners and Losers” of the Australian Federal Budget for 2020 click here. Key Points: Tax cuts for workers – more money in pockets for more Australians. JobMaker Hiring Credit scheme – businesses supported for hiring employees aged…  Read more

Do you have more questions this tax time?

What a year! We don’t need to tell you that this year has been “unprecedented”. With so many stimulus packages, support programs, tax changes and business shutdowns this financial year is set to be like we’ve never seen before. Oddly enough, amongst all the upheaval, rarely have we felt so enthusiastic about the opportunities for people and businesses who are open to new ideas and who are looking for guidance…  Read more

Payroll and Payment Summaries – what you need to know

The introduction of Single Touch Payroll (STP) has meant that tax time this year will be a little different. Under the new system employers must report pay, taxes and superannuation information directly to the ATO every payday through STP. Employers using STP will not give employees a payment summary as they usually would at this time of year. Instead, employees will get an end-of-year income statement in ATO online services…  Read more

Superannuation Guarantee Amnesty

On 6 March 2020, just as COVID-19 was starting to cause mayhem, the government passed legislation for a Superannuation Guarantee Amnesty. The amnesty allows employers to disclose and pay previously unpaid Super Guarantee Charge, including nominal interest, that they owe to their employees for past quarters (1 July 1992 to 31 March 2018). Despite intense lobbying for an extension, no changes have been announced and the Amnesty is due to…  Read more

Tax tips for business owners

Seamless bookkeeping and accounting You want to avoid paying more than you should come tax time. Part of that is ensuring you have well organised and recorded financial records. When tax time comes around, are you ready or scrambling last minute for missing financial records? Business owners have a lot on their plate and can easily lose track of an approaching tax deadline or financial data needed to submit returns.…  Read more

Own a Residential Investment Property?

Want to know how the 2017-18 Budget affects your future tax position?   Here’s the rub… The ATO is interested ATO audits of over 300 rental property claims found errors in 90% of returns.  This means a huge potential loss of revenue for the ATO and fertile ground for tax reviews. This year, the Australian Taxation Office (ATO) will undertake 4,500 audits of taxpayers it considers are “high risk” because…  Read more

Make a Tax Deductible Donation

Looking for a low risk tax deduction? Donate to a charity and invite the ATO to part-fund a good cause… What’s not to like?  Donations must be made by June 30. Some of the charities we at Porters CA love and support are Teen Challenge WA, Anglicare WA, Rebound WA, Youth Focus, Brain Cancer research. Donate to your school, sporting club, people in need. What goes around comes around. Do a…  Read more

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