Category Archives: News

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Employees VS Contractors

Difference between employees and contractors Determining whether a worker is an employee or a contractor requires reviewing the whole relationship between the individual and the employer.  An employee is an individual who works for a business and is part of the company. The following are always treated as employees: Apprentices Trade assistants Labourers; and  Trainees  […]

Company deriving rental income cannot claim CGT concessions

Tax Determination TD 2021/2 (the Determination) released on 24 Feb 2021, confirmed that companies whose only activity is renting out investment property cannot claim the small business CGT concessions outlined in Division 152 of the Income Taxation Assessment Act (ITAA) 1997 even if it is ‘carrying on a business’ in a general sense as described […]

Monday, 8 March: International Women’s Day 2021

“There is no limit to what we, as women, can accomplish.” – Michelle Obama  Happy International Women’s Day (IWD).   At VHL Partners, we are delighted to be supporting International Women’s Day, especially as 2021 marks 2 important themes; ‘Women in leadership’ and ‘Choose to challenge’- inviting us all to “seek out and celebrate women’s achievements and […]

Single Touch Payroll changes from 1 July 2021

The ATO has recently published a number of changes to Single Touch Payroll (STP) which will take effect on 1 July 2021. Small employees will commence to report for closely held payees, and the quarterly exemption for micro employers will generally cease.  End of exemption for Closely held payees Exemptions relating to reporting closely held […]

A timely change to the FBT car parking exemption rules

A legislative change, announced in the 2020–21 Federal Budget and legislated by the Treasury Laws Amendment (A Tax Plan for the COVID-19 Economic Recovery) Act 2020 (the Economic Recovery Act) will result in many employers now qualifying for a car parking fringe benefits exemption, where previously they did not. This legislative change is effective 1 […]

Economic response to the Coronavirus

The Government has announced its economic response to the Coronavirus in the form of a $17.6 billion economic stimulus package. The package has been marketed as a measure to protect the economy by maintaining confidence, supporting investment and keeping people in their jobs. It is expected that an appropriate package of Bills (which will provide […]

Legislative changes affecting property

A large number of Acts and Regulations have been enacted by the Australian Government which impacted the property Industry. Here is a quick summary of legislative changes since 2017.   Foreign resident capital gains withholding regime Starting from 1 July 2017, purchasers of certain taxable Australian property (contract price above $750,000) are liable to pay […]

Tax Implications on the relationship broken down

Nowadays, more and more people prefer to stay in a defacto relationship with their partners instead of getting married. As a result, starting from 2009, parties with eligible defacto relationship which has broken down are allowed to apply to the Family Court or the Federal Circuit Court to have financial matters determined in the same […]

Uber vs Taxis

While Uber services are being more and more popular in our life, the tax issues related to Uber services have also raised people attention. There are doubts about the GST treatment for service providers and the FBT treatment for employers. This article will discuss related tax policies, issues and what are the treatment for each […]