Archives

LOW & MIDDLE INCOME TAX OFFSET

LMITO was recently passed by parliament and became legislation effective for the year ended 30 June 2019. The tax offset reduces the amount of tax otherwise payable by an individual and any unused ..

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FUEL TAX CREDITS

The next half yearly rate change for fuel tax credits due to indexation commenced on 5 August 2019. The fuel tax credit rates change regularly so it is important to keep good records to support a c..

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CIB Newsflash – Tax Office Scam Alert

We have recently become aware of a scam currently in operation where the callers claim to be from the Australian Taxation Office (ATO). They state that there is an outstanding debt owing to them an..

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Are you paying the correct amount of Tax?

What does the tax office look for in assessing whether a professional business owner is paying the correct amount of tax? That's a very good question, and welcome to CIB Accountants. The answer to thi..

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Crowdfunding and Tax Implications

Crowdfunding is the practice of using social media and the internet to raise funds and supporters for a particular project or venture. There may be tax consequences if you are involved in crow..

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