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.
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.
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 […]
You might be able to claim a range of expenses related to the portion of your home set aside for your business.
Supposedly, up to 800 businesses will be targeted by the ATO and Fair Work Ombudsman.