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Buying cars in your personal name, not the company?

Buying cars in your personal name, not the company?

The landscape for motor vehicle tax deductibility has changed. This is because the immediate asset write off has been reduced to $20,000, so most vehicles will now go back to small business annual % depreciation, and secondly, the prices of cars have skyrocketed...
The ATO’s tough new approach to collecting debt

The ATO’s tough new approach to collecting debt

In the last 6 months we have seen a much tougher stance from the ATO regarding how they collect debts. Payment plans are hard to get and they are not refunding any interest charges (currently  11.15%) or late lodgement penalties.  There has also been a large...
Reminder to apply for your directors ID

Reminder to apply for your directors ID

Following our blog posted on March 22, about Directors Identification Numbers, this is a reminder that all directors are required by law to have a Directors ID. If you were a director before 31 October 2021, you need to apply for your ID before 30 November 2022. If...
Changes to Compulsory Super (SGC)

Changes to Compulsory Super (SGC)

Over the past few months, there have been some changes to Compulsory Super Guarantee. It is important that you are aware of the following changes: For payroll processed from 1 July 2022 onward, compulsory super guarantee (SGC) will be payable at 10.5% of wages, which...
Can I claim my caravan as a tax deduction? YES

Can I claim my caravan as a tax deduction? YES

It might surprise you that the answer to the above question is often – yes you can claim a deduction for a percentage of the purchase of a caravan or camper trailer as a tax deduction, as well as a percentage of running costs like repairs and maintenance. ...