Rental Income Concepts
Rental Income ConceptsResidential RentCommercial RentGST doesn't apply to residential rent. You're not liable for GST on the rent you…
Division 7A (Only for Business) Concept
Division 7A (Only for Business) Concept What is the purpose of Division 7A?Division 7A is part of the Income Tax Assessment…
Luxury Car (Only for Business) Concept
Luxury Car (Only for Business) ConceptApplicable only for business use.What is Luxury Car?In FY 2021 -22 Car Gross Value was…
Unfranked Dividend, Franked Dividend, Franking Credit Concept
Unfranked Dividend, Franked Dividend, Franking Credit ConceptExample:1 At the time of Issuing Dividend by Company DescriptionDrCrBalance1st Quarter PAYG Instalment2002002nd Quarter PAYG…
Fuel Tax Credit (Only for Business) Concept
Fuel Tax Credit (Only for Business) ConceptFuel Tax Credit (Claim your fuel tax credits on your BAS)If your business uses…
CTR – Declarations – ATO
6. DeclarationsTax agent’s declarationPublic officer’s declarationHours took to prepare and complete this tax return
CTR – Calculation Statement – ATO
5. Calculation StatementCalculating your T5 Tax payable and S Amount due or refundableA –Taxable or net income (From Item 7)51000T1Tax…
Item 7 -Reconciliation Statement For Company – ATO
*Item 7 -Reconciliation Statement For CompanyDescriptionPPNPPAAccounting Net profit or Loss (Excluding Income Tax Expenses)BIncome reconciliation adjustments (H-L)HAdd backs: Assessable…
Company Tax Return – ATO
Business Company informationItems 1 to 5Information statement – items 6 to 25Overseas transactions, interests, or thin capitalization – items 26…
ITR – Credit for interest on early tax payments -ATO
C1 - Credit for interest on early tax paymentsAny of the following payments made to ATO before 14 days…
