Author: Catherine Frost
Business in a post pandemic environment
Countries that have experienced the worst of the pandemic give Australian businesses an insight into what to expect in a post-lockdown environment.
Your SMSF: when expenses and investments are not at arm’s-length
We often get questions from clients about what they can and cannot do in their SMSF. Often the questions relate to related party transactions – that is, interactions between the SMSF, its assets, and its members (or relatives of members). We’ve set out some of the common questions and answers.
Penalties will recommence: ATO restarting debt recovery action
Taxpayers defaulting on tax debts and lodgement requirements can soon expect contact from the ATO as it confirms the recommencement of its compliance actions in the wake of JobKeeper concluding.
The risks early lodgers face
Tax time is near, but the ATO is urging individuals to take extra time when preparing their tax return to minimise their risk of making a mistake.
Business owners now personally liable for GST compliance
From the start of April 2020, the tax office will be deeming directors as entirely liable for their company’s GST responsibilities. The additional liability is an extension of the already existing DPN (Director Penalty Notice) regime. Previously, the regime had applied to PAYG withholding and superannuation guarantee liabilities, but the extension also covers GST, luxury […]
What deductions can be claimed if you run your business from home?
You might be able to claim a range of expenses related to the portion of your home set aside for your business.
Melbourne small businesses receiving in-person visits from ATO
Supposedly, up to 800 businesses will be targeted by the ATO and Fair Work Ombudsman.