Category: Small Business
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.
Lockdown top-up support payments are available in Victoria
Top up support payments are available for businesses and individuals if you are impacted by the Victorian lockdowns. The Victorian Government announced the new cash grants available, declared on 15 July 2021.
Lock-downs: What help is available
The highly infectious Delta COVID variant is triggering lock-downs across the country. We look at what help is available and how you can get it.
No more dodging tax: New share economy reporting rule set to begin
The individuals who participate in the share economy such as Uber, Deliveroo & Airbnb will no longer be able to escape their tax obligations as the government determines the implementation of a legislation for a new compulsory reporting regime.
The ATO have extended the STP finalisation due date
Businesses have been given extra time to submit their Single Touch Payroll finalisation declaration this year as the ATO acknowledges the continuing impacts of COVID-19.
Employers exempt from FBT for retraining employees
Employers who deliver training to employees who are to be made redundant will now be exempt from fringe benefits tax after the legislation passed through Parliament.
SGC going to 10% on 1 July 2021
When the compulsory SG contribution payments are increased to 10%, you will need to alter your payroll systems to pay the new increased rate to your eligible employees.
The New Lifetime Director IDs
Directors will be required to register for a unique identification number that they will keep for life, much like a tax file number under a rewrite of Australia’s business registers.
Business Bust-up
One thing that is nearly as awful as getting divorced from your spouse, is to go through a toxic business break up. There are a number of key reasons that cause business separations which arise time and again.
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.
ATO chases $172bn in undeclared contractor income
The ATO has urged businesses to come clean on $172 billion worth of payments to contractors as it gets tough on non-compliance with the taxable payments reporting system.
Why are some businesses returning JobKeeper?
Companies that received JobKeeper and subsequently paid dividends to shareholders and executive bonuses have come under particular scrutiny, not just by the regulators but by public opinion.