I am not sure if my workers are Employees or Contractors – how can I find out?

The ATO provides a useful questionnaire to help answer this question. If you would like to use the questionnaire please click on the link below or you can contact EMG Accounting Plus Pty Ltd and chat with one of our qualified accountants.

Employee V Contractor Decision Tool

When are the BAS due for lodgement?

If you lodge your Business Activity Statements electronically through EMG Accounting Plus Pty Ltd then your lodgement dates are:

Quarterly Reporting 

July to September Quarter: due date 25th November

October to December Quarter: due date 28th February

January to March Quarter: due date 25th May

April to June Quarter: due date 25th August

Monthly Reporting

Due 21st of every month

When should Superannuation Contributions be paid?

July to September Quarter: due date 28th October

October to December Quarter: due date 28th January

January to March Quarter: due date 28th April

April to June Quarter: due date 28th July

Please note that if superannuation is not paid by these dates, the contribution is not tax deductible. Should you require all your superannuation contributions to be deductible in a financial year, the contribution must be received by the Fund pre 30th June.

If you are a small business with less than 20 employees, superannuation contributions can now be paid through Superannuation Clearing House

What is the latest date that I can lodge my Income Tax Return without incurring any late lodgement penalties?

Please contact our office as lodgement dates vary for individuals and entities depending on their specific circumstances.

Can I claim my motor vehicle for my work use without keeping a log book?

Yes, by using cents/km method up to a maximum of 5000km. This calculation includes all the depreciation calculations for you. We recommend that you do keep a log book for 12 weeks and retain all of your receipts for your vehicle running costs to ensure that the maximum deduction that you are entitled to is achieved.

If my profit is that much, where has all my money gone?

Please contact us and we will explain to you. We can also provide you with a Business Health Check to give you a better understanding where your business is at.

What Accounting software do you recommend I use in my new business?

There are several accounting software packages available. We recommend MYOB Accounting Software or Xero Accounting Software but please contact us to discuss the version that bests suits your needs as there are many available options to choose from.

I have to buy tools/equipment for my job. What can I claim and how much?

You are able to claim expenditure incurred in replacing, insuring and repairing tools of trade that you use for earning your income. The amount you can claim will depend on what records you have kept. Let us help you discover how much you can claim – simply contact us today.

My job requires me to keep my knowledge up to date and I buy books and journals. Can I claim them all?

If technical books, trade books or journals are necessary to fulfil your job function efficiently then the cost of their acquisition is deductible.

Can I claim a deduction for sun protection items?

A deduction is available for outdoor workers who buy sunscreen lotion, sunglasses and hats for use at work. The claim must be substantiated and adjusted for private use.

I have incurred travel expenses this year. What can I claim?

Your travel must be relevant to your job function for you to claim a deduction for those expenses. Where this is the case you can claim the cost of transportation and incidentals. If your travel involved an overnight stay you would be able to claim for meals.