Author: Ken Burk
What Tax Concessions Are Available For Small Businesses?
Depending on your specific circumstances, these may or may not be relevant for you.
The $11.1bn Small Business Tax Shortfall
The tax gap estimates the difference between the tax collected and the amount that would have been collected if everyone was fully compliant with the law.
Are Phones And Internet Considered A Fringe Benefit?
Generally, this scenario is labelled as an ‘expense payment fringe benefit’.
FBT And Uber Style Ride Sharing
Does the FBT exemption extend to employees using Uber for travel?
New Businesses Required To Lodge TPAR
Businesses that provide cleaning or courier services will now need to lodge a Taxable Payments Annual Report (TPAR).
60,000 Tip-Offs Helping The ATO To Find Tax Cheats
The ATO thinks the number of tip-offs will reach around 70,000 for the full financial year.
High Wealth Business Owners To Be Targeted By ATO in 2019
The tax office have identified that a large number of Australian high wealth individuals are not adhering to their tax responsibilities.
Crucial Tax Information For The New Financial Year
The tax office have made a few crucial notes for small businesses and taxpayers before they lodge their tax return.
Can I Claim An Input Tax Credit?
They are credits which can be claimed for the amount of GST included in the price of goods that you buy for use in your business.
Extension & Increase To The Instant Asset Write-Off For Small Businesses
Assets will need to be used or installed ready for use from Budget night until by 30 June 2020 to qualify for the higher threshold.
myGov Is More Pain Than Gain For Accountants
myGov has become a target for criticism as certain faults are creating significant pain for tax and BAS agents, and, in turn, their clients.
Warning For Tax On Overseas Income
Do you earn income overseas? A recent case highlights why you might pay more tax than you thought on foreign income.