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...

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...

Net Medical Expenses Tax Offset Phase Out

Mannions Business Services - Wednesday, August 21, 2013

As part of the 2013-14 Budget, the Government announced it will phase out the Net Medical Expenses Tax Offset. For financial years commencing from 1 July 2013, you will only be eligible to claim the tax offset where you claimed it on the 2012-13 Income Tax Return or where the claim is restricted to out-of-pocket medical expenses for disability aids, attendant care, or aged care expenses, which exceed the relevant threshold.   more here...

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