Tax deductions for motor vehicle expenses.
This area can be confusing – when to claim, how much, cents per km, what to claim, impact on FBT etc… Look at what motor vehicle expenses you are incurring and keep in mind the impact of FBT.
Superannuation.
Super guarantee payments for the quarter ending 31 March 2021 are due by Wednesday 28 April 2021 to avoid the Superannuation Guarantee Charge, penalties and interest. Most importantly, you will be able to claim a tax deduction. To review your superannuation compliance, feel free contact us.
Taxable Payment Annual Report (TPAR).
A reminder to ensure these are lodged to ensure $172 billion of payments to contractors have been properly declared. To determine if need to lodge a TPAR for your contractor payments, contact us and we can review.
Xero: Xero Verify is live – the new MFA.
The new Xero Multi-Factor Authenticator (MFA) app is up and running. It only takes a few minutes to setup. Best to get this setup as this will be mandatory in the year ahead.