Individuals who are represented by a registered tax agent will often have a personal tax return filing deadline that is the 15th of May following the end of the tax year. This can be extended to the 5th of June as a concession in certain circumstances – notably if the tax return is lodged and […]
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Working From Home During COVID-19 – Tax Deductions in Australia
Due to the Coronavirus (Covid-19) pandemic we find ourselves in an unprecedented time with a large number of employees required to work from home. If you are an employee and have been working from home due to government imposed or self-isolation requirements you should be able to claim work-related tax deductions for using your home […]
End of Tax Year Planning – Australia
As we approach the end of the 2019-20 tax year in Australia here are some steps you might take to reduce your tax bill – or to increase your tax repayment. Please remember that comments here are general in nature – you should consider discussing what follows with your tax accountant before taking any action. […]
COVID-19: JobKeeper payment details for sole traders, partnerships, and other entities
The Australian Taxation Office has released details regarding the Federal Government’s JobKeeper payment for sole traders, trusts, partnerships, and share holders and directors of limited companies. Sole traders and entities such as partnerships, trusts or limited companies can be entitled to the JobKeeper Payment scheme. Such an entity can be eligible for the JobKeeper Payment […]
Stuck in Australia due to COVID-19? Tax Office issues Guidance on Tax Residency Status.
The Australian Taxation Office has issued guidance to clarify the residency position for those who find themselves temporarily in Australia and unable to depart due to restrictions introduced by the Australian Government. The inability to depart Australia during the COVID-19 outbreak has generated uncertainty for many regarding their tax residency status in Australia – particularly […]
UK Tax: Daily Penalties for Late 2019 Personal Tax Returns Start Soon *** Don’t Delay! ***
If you have not yet submitted your 2019 UK tax return you should be aware that per day late filing penalties will commence on the 1st of May, 2020. The UK has a late filing penalty regime where a personal tax return is not submitted by the due date. For most who are required to […]
2019 UK Tax Return Filing Deadline Approaching Fast
A reminder that HM Revenue and Customs (HMRC) must receive your 2019 personal UK tax return and any money you owe in respect of the year to the 5th of April 2019 by the 31st of January 2020. If you have been issued with a Notice to File a 2019 UK tax return the return […]
2019 UK Tax Returns – the Residence Supplement, aka the form SA109
With the filing deadline for the electronic submission of 2019 UK tax returns on 31 January 2020 it is timely to review the circumstances when the Residence, Remittance Basis, etc (form SA 109) supplement to the UK tax return is to be completed. The HM Revenue & Customs website advises that you must fill in […]
Capital Gains Tax Hit for Australian Expats
Legislation has now passed the Australian Parliament that will significantly affect many individuals who are not resident in Australia and who sell a former home in Australia while living overseas. The Treasury Laws Amendment (Reducing Pressure on Housing Affordability Measures) Bill 2019 cleared both House of Parliament yesterday and will now proceed to Royal Assent. […]
Avoid That Fine!
The deadline for submitting most 2019 UK personal tax returns is now less than two months away – the latest date by which a 2019 UK tax return is to be submitted with HM Revenue is usually 31 January 2020. A late submission will usually result in a late filing penalty of £100. Please contact […]