Last year, the Federal Government introduced changes to the private health insurance rebate and the Medicare levy surcharge. This year your entitlement to the private health insurance rebate is income tested.
Leading up to tax time we have put together some simple strategies and opportunities individuals and businesses may use to minimise their tax bill. Tax Planning strategies are not just something to consider at year end, but should be an ongoing process which considers changes in legislation and your personal situation.
If your company has fallen behind on its PAYG withholding tax, the Australian Taxation Office is looking very closely at you. Not the company, but you, the Director.