Category: Tax

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Small Business, Tax, Uncategorized

Recruiting new employees? The 1 November superannuation rule changes

From 1 November 2021, where an employee does not identify a superannuation fund, the employer is required to contact the ATO and request details of the employee’s existing superannuation fund or ‘stapled’ fund (the fund stapled to them).

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Small Business, Tax

How Do I Declare My Income As An Influencer?

As an Influencer, it’s important that you declare your assessable income from all sources that it has obtained from which includes income made through endorsements, sponsorships and non-cash benefits. If income is not correctly reported, this can become an issue that may trigger ATO audits.

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SMSF, Tax, Uncategorized

Did your super fund receive a compensation payment?

Is a financial services compensation payment to your superannuation fund a contribution? Of late, there have been several compensation payments made by financial services providers to customers that were inappropriately charged or overcharged for insurance premiums or services they did not receive.

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Woman Comforting Depressed Man At Rehab Group Meeting
Community, Community Support, Small Business, Tax

Mental Health Support for Business Owners

Running a business can be an isolating experience. And, with COVID-19 lockdowns and disruptions to trade, the pressure can be intense.

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Small Business, Tax

ATO update on tax claims for NANE COVID-19 payments

According to new guidelines issued by the Australian Taxation Office, small businesses that pay accountants or bookkeepers to apply for tax-exempt COVID-19 grants on their behalf will not be able to claim tax relief for the service.

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Small Business, Tax

Growing your business value

Over the next decade, as the baby boomer bubble of small and medium sized business owners roll through the system, Australia will experience one the largest transfers of business wealth in its history.

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Community, Small Business, Tax

Lockdown Support Update

The support available to individuals and business has been constantly evolving and changing. Here’s a summary of where support stands around the country.

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Copy Of Lockdown Government Grants
Property, Tax

The ATO examines property investors as deduction issues increase

The ATO has issued a warning to property investors this tax time following rental income and deduction errors found in over 70 per cent of tax returns audited last financial year.

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Small Business, Tax

COVID-19 Government Grants and Payments to be Tax-Free Under Law Change

The COVID-19 support payments received by individuals and businesses are set to be regarded as non-assessable non-exempt income after the introduction of a new legislation into Parliament.

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Blog, Community Support, Small Business, Tax

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.

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Blog, Small Business, Tax

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.

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Blog, Small Business, Tax

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.

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