Welcome to HG Khouri & Associates

H G Khouri & Associates was originally founded on forward thinking, innovation and excellence which are qualities our team continues to embrace and practice.

Today H G Khouri & Associates continues to offer a range of talented professionals encompassing technical and industry backgrounds and our focus is on delivering strategic advice, innovative solutions and excellent service to our clients.

News

Tax implications of having more than one job

With insecure, contract and casual work becoming increasingly common, particularly in the current COVID-19 affected economy, it’s no surprise that many young and not-so-young Australians may have income from more than one job. If you are working two or more jobs casually or have overlapping contract work, you need to be careful to avoid an unexpected end of financial year tax debt.
This type of debt usually arises where a person with more than one job claims the tax-free threshold in relation to multiple employers, resulting in too little tax being withheld overall. To avoid that, you need to look carefully at how much you’ll be making and adjust the pay as you go (PAYG) tax withheld accordingly.


Click here to read more in our latest Client Alert newsletter.

 

Working from Home during COVID-19

Due to COVID-19 your working arrangements may have changed. If you have been working from home, you may have expenses you can claim a deduction for at tax time.

Tracking these expenses can be challenging, so the ATO have introduced a temporary shortcut method. It's a simple way to calculate these expenses with minimal record keeping requirements. The shortcut method initially applied from 1 March 2020 to 30 June 2020, however it can now be applied up until 30 September 2020.

This means, you will be able to use the shortcut method to calculate your working at home expenses for the period from:

1 March 2020 to 30 June 2020 in the 2019–20 income year, and
1 July 2020 to 30 September 2020 in the 2020–21 income year.

More information is available at the ATOs website or by contacting our office.

Line

Do you need financial planning advice?