Mannion's Blog

Airbnb and home sharing: Taxing implications

Mannions Business Services - Thursday, July 26, 2018

Do you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as a way of making a little extra income to help the household budget or to save for that holiday. But what you may not be aware of are the long-term tax implications of such a move, which may lead to a case of short-term gain causing long-term pain.  more here...

Super guarantee: are you ready for ATO crack down?

Mannions Business Services - Tuesday, September 26, 2017

The ATO is increasing its efforts to crack down on employers who fail to make quarterly superannuation guarantee (SG) contributions of 9.5% on behalf of their employees. If you are an employer, regardless of whether you run a small or large business, now might be a good time to review your SG obligations before the ATO comes knocking. If a shortfall is discovered, simply rushing to make extra super contributions will not always be the best course of action. In fact, it can result in a double liability, so careful planning is required for dealing with any identified problems.  more here...

New PAYG Tax Tables from 1 October 2016

Mannions Business Services - Thursday, September 22, 2016

We produce a range of tax tables to help you work out how much to withhold from payments you make to your employees or other payees. A tax withheld calculator that calculates the correct amount of tax to withhold is also available.

the May Budget the government announced changes to individual tax rates for the 2016-17 income year. Legislation dealing with those announced rates was introduced to Parliament on 31 August 2016. As a result a number of tax tables have been updated to apply from 1 October 2016. Those tax tables that have not been updated will continue to apply.

Updated tax tables
do not include any catch-up component for the portion of the year which has already passed. Individuals affected will receive the full benefit of the tax changes upon assessment of their income tax return for the 2016-17 income year.  more here...

Scams Imitating Australian Taxation Office E-mails

Mannions Business Services - Wednesday, August 06, 2014

In the latest scam email that is circulating, scammers are using the myGov and ATO logos to make their email look authentic. Remember to look out for SMS and emails that ask for your personal or financial information, such as your date of birth, address, credit card details and PIN – we will never ask you to provide this information via SMS or email.  more here...

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