Only the important stuff

We only post relevant information that you need to be aware of... along with helpful hints, reminders and explanations.

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Tax Time

Tax Time

With the new financial year upon us, we thought you might like a quick 'ready reckoner' of tax obligations for your strata clients:

Strata Income Tax Matters - FAQs

Strata Income Tax Matters - FAQs

The vast majority of strata managers we work with are very aware of when a strata company needs to prepare a tax return and what is required to be included (ie: interest income from banks, status certificate income, laundry receipts etc).  On occasions though, a councillor may request further justification as to 'Why?'

Tax Considerations with Honorariums

Tax Considerations with Honorariums

Honorariums are a kind and practical way to reward the hard working volunteers that contribute so much to a strata company.  Keep in mind the potential tax implications though.

Ascend's COVID-19 Response

Ascend's COVID-19 Response

We would like to wish all of our clients well during this difficult time for small business. As always, we are here to help you in any way we can.

Single Touch Payroll

Single Touch Payroll

Single Touch Payroll (STP) has been passed by parliament. This means that all employers, including many strata companies, will need to report payroll information electronically to the ATO every time they pay employees.

Single Touch Payroll FAQs

Single Touch Payroll FAQs

Single Touch Payroll is a mandatory change in the way employers report payroll to the ATO.  It affects all employers and our FAQ article gives strata managers all of the information they need to know.

ATO Finalises Strata Tax Ruling

ATO Finalises Strata Tax Ruling

Last week, the ATO issued Taxation Ruling TR 2015/3, outlining the Commissioner's views in relation to income tax matters that affect strata title bodies. This ruling represents the final version of Draft Taxation Ruling TR 2015/D1 which was issued back in March.