FAQs

Please contact us via merit@meritpartners.com.au and provide a brief overview of your needs, a copy of your last audited financial report, and contact details.

To prepare for an audit we will provide you with a customised Client Assistance Package which details the information needed for the audit.

The time required to complete an audit will vary depending on the size and complexity of the organisation. An agreed timeline will be established during the planning phase of the audit. Your management team will be updated regularly on the status of the audit throughout the audit process. Any matters or issues that may impact our ability to complete the audit within the agreed timeline will be discussed and raised with management. Regular consultation with you, the client, will occur to ensure you are kept up to date.

The ATO has a specific page dedicated to assisting individuals become aware of which deductions are typically available for their specific industry or work.

If you click into a specific industry there is a PDF ‘poster format’ summary of what’s claimable. Contact us to ensure your claims are maximised.

The ATO has a downloadable PDF ‘poster format’ summary which covers: What you can claim, calculating the deductible proportion of the expense, common scenarios and records you must keep.

Travelling to and from work is usually private expenditure and not deductible.

However, there are some instances where you may be able to claim your work-related travel costs:

• If you carry bulky tools or equipment that cannot be left at your workplace
• Work at different sites and travel to them before returning home
• You start work at home and then travel to continue work for the same employer
• You travel from home to a workplace that is not your regular workplace

The ATO has more information.

You must first ensure that your business is registered to claim Fuel Tax Credits (FTC) on your Business Activity Statements (BAS). The ATO has a FTC Eligibility Tool for determining if you are eligible for to claim FTCs.

 If you are registered, the FTC amount to be reported for a period can be calculated using the ATO’s FTC calculator tool. This dollar amount is then reported at item 7D on your BAS and will reduce your net payable figure for the period.

 If you have any questions, please contact our office for further assistance.

Single touch payroll started on 1 July 2018 for employers with 20 or more employees.

Legislation has now passed imposing Single Touch Payroll (STP) on employers with 19 or less employees. Thus all employers will need to start reporting by this date. More information relating to STP is available.