(08) 9594 1963
Unit 7, 12 Belgravia Terrace, Rockingham, WA 6168

Our Blog


Uber Is Not A Taxi Service for Fringe Benefit Tax purposes

By Heaney Business Group

Good News, the outdated FBT rules for Uber Drivers are set for a legislative change. Treasury has released an exposure draft under the Treasury Laws Amendment Bill 2019.  It seeks to replace the word “taxi” and change it to read “a car used for taxi travel (other than a limousine)”. The ATO confirmed that the  … Read more

Read More
Diversity in Self Managed Superannuation Funds (SMSFs)

By Heaney Business Group

Making a deliberate decision to have little diversity in Self Managed Superannuation Funds (SMSFs) is a choice many trustees make. Choosing to do this is acceptable however you must be able to prove this was an active decision and be able to justify your reasoning. The Australian Taxation Office (ATO) has stated: “a lack of  … Read more

Read More
ATO Cracks Down on Foreign Income

By Heaney Business Group

The Australian Taxation Office (ATO) has identified under-reporting of foreign income is an issue.  5 years ago, the ATO gave a reprieve for those who should have been penalised for not disclosing foreign income. But this time it’s not being treated lightly, as the ATO Cracks Down on Foreign Income If you have foreign income  … Read more

Read More
Director Penalty Notices (DPNs)

By Heaney Business Group

Director Penalty Notices (DPNs) are a way of the ATO collecting companies outstanding tax liabilities. These penalties make directors legally responsible if their company has any unpaid Superannuation Guarantee (SGC) or Pay As You Go (PAYG). Although personal liability doesn’t expand to GST that hasn’t yet been recorded or paid, receipts can still be handed  … Read more

Read More
Personal Income Tax Changes Cause Uncertainty for Taxpayers

By Heaney Business Group

Taxpayers expecting to receive the recent income tax cut subsidy of $1,080 have been left disappointed and confused when lodging their tax returns. This new tax cut does not entitle all taxpayers to receive this subsidy when lodging their 2018-2019 tax return leading to the Australian Taxation Office (ATO) being swamped with queries from taxpayers.  … Read more

Read More
The ATO airs ‘Dirty Laundry’ on Laundry Expenses

By Heaney Business Group

The ATO (Australian Taxation Office) has issued a warning that it is scrutinising claims for work-related clothing and laundry expenses.  The ATO Assistant Commissioner Kath Anderson stating “Last year around 6 million people claimed work-related clothing and laundry expenses, with total claims adding up to nearly $1.8 billion. While many of these claims will be  … Read more

Read More
New Pay Rates effective as of 1st July 2019

By Heaney Business Group

New rates of $740.80 per week are applicable to employees not covered by an award or agreement.

Read More
Important Changes to Super Insurance and Exit Fees

By Heaney Business Group

As a result of new laws, (1 July 2019) you will longer see superannuation providers diminishing member balances with untoward or unnecessary insurance and exit fees. Plus, accounts that are inactive with low balances will be moved to the ATO to attempt to link the unclaimed superannuation with their owners. These changes do not apply  … Read more

Read More
ATO Changes That Will Affect Your Business

By Heaney Business Group

If you are a business with 20 employees or more, you will no longer need to issue Payment Summaries and you have until 14th July to have your declarations finalised.

Read More