radford tax logo
07 5495 4100 ◆

Wage subsidies for employers

Posted on May 3, 2016 by admin

The Budget’s plan to enhance wage subsidies is set to benefit both job seekers and businesses in Australia.

As part of Budget reforms, existing wage subsidies (including those for youth, parents, Indigenous, mature age, and the long-term unemployed) will be streamlined to make them more accessible for employers.

Wage subsidy arrangements will be simplified to be much more flexible and provide job seekers with incentives to break into the Australian workforce.

Employers will have wage subsidies available to them from the first day of a job seeker’s employment. Employers will also have the flexibility to choose how often instalments are paid (fortnightly, monthly or another arrangement) and over what time period.

Rather than being paid out over 12 months, wage subsidies will now be paid out over six months at a flat rate instead of pro-rated instalments.

maximise your business's value

latest news

When do you have to pay tax on shares?

Posted on February 20, 2020 by admin

Investing in shares is a popular method of growing your wealth, however, there are tax obligations you need to be aware of to get an accurate sense of how much you’ll need to put aside for your investments.

When you own shares, you need to declare all your dividend income on your tax return. It is possible to claim tax deductions for certain expenses you pay to receive income from your shares. The deductions you are eligible for will depend on if you are carrying on a business of share trading or if you are an individual share investor, but they can include:

Individual share investors cannot claim a deduction for the cost of acquiring shares, such as costs for brokerage and stamp duty, however, they can claim deductions on the prepayment of expenses related to the shares such as internet fees or seminars.

Buying and selling shares can involve capital gains tax (CGT), depending on whether you make a capital gain or a capital loss on your shares. Your capital gains or loss is the difference between the price you paid for the shares and the price you sell them for. If you end up selling your shares for more than you paid for them, then you make a capital gain which may be taxed.

How much CGT you need to pay varies depending on:

radford tax associationsradford tax associationsradford tax associations