Welcome to JBG Accounting's latest news blog

© Content in partnership with Taxpayers Australia

Recent Posts

1 Jul 2020

Despite the current COVID-19 world in which we live, the procedures for completing and lodging tax returns remains pretty much the same.

Before we talk with you to go over your tax return, certain information will be needed. Of course these days pre-filling takes care of a lot of the "paperwork", and if you wait until late-July or mid-August the ATO's systems will most likely be able to provide most of the information from employers, banks, government agencies and other third parties.

We will then be able to double...

1 Jun 2020

This financial year is almost over, but there are still effective strategies you may be able to employ to make sure you pay the right amount of tax for the 2019-2020 year and maximise any refund entitlement. This is still, if not more so, the case in the current COVID-19 environment.

While the best strategies are adopted as early as possible in a financial year and not at the end, it's worth remembering proper tax planning is more than just sourcing bigger and better deductions. The best tips involve assessing you...

1 May 2020

There are many questions being asked lately about claiming expenses when being asked to work from home over the COVID-19 period, plus a lot of concern about any consequent capital gain issues when later selling a property from which people have been coerced to work from during this time.

CAPITAL GAINS:  First of all, the CGT issue is fairly straight forward. The ATO says that in most cases, if you are working from home as an employee, regardless of whether or not you have a separate work area, there will be n...

3 Apr 2020

A legislative package has been pushed through Parliament which contains a number of bills that implement the government's economic response to the spread of the coronavirus.

The relief package of legislation consisted of several separate bills, which were all introduced to Parliament within a short period of time. The legislation has now passed both houses, with most applying from mid-March.

The government further announced at the end of March a further massive subsidy for businesses to help them retain employees s...

4 Mar 2020

If you own a marine vessel, perhaps a thoroughbred horse or two, have a piece of fine art hanging on a wall, high value motor vehicles in the garage or an aircraft in the shed, it could be time to make sure you tax affairs are in order.

The ATO announced in the latter part of last year that it will be requesting a further five years' worth of policy information from more than 30 insurance companies (see which ones below) about

taxpayers who own what it dubs "lifestyle assets" such as mentioned above.

Insurers have b...

Please reload

July 1, 2020

Please reload

Archive
Please reload

© 2020 JBG Accounting                         
  

Liability limited by a scheme approved under Professional Standards Legislation

02 4088 8008

0414 729 436

2/50 Regent Street, New Lambton, NSW 2305

  • LinkedIn - Black Circle
  • Facebook