ATO Archive
Tax
The ATO has flagged four priority areas this tax season where people are making mistakes.
Small BusinessTax
The ATO has not pursued many business tax debts during the pandemic and allowed tax refunds to flow through even if the business had a tax debt. That position has now changed!
Small BusinessTaxUncategorized
The end of financial year is fast approaching, which means it’s time to start thinking about your tax! We have 14 tax saving tips to help you prepare and manage your Business’ financial accounts throughout the year.
Small BusinessTax
Recently, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations. These letters are a warning shot and should not be ignored.
Small BusinessTax
We have many clients asking us, what is PAYG, why do I need to pay the ATO upfront and how does it affect a business? There’s no need to struggle to understand this system anymore, let’s break it down!
Tax
The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022.
Small Business
As a business owner it’s crucial that you keep track of your finances. You don’t need to be an expert on all the reporting if you have a bookkeeper who assists you, but you do need to keep an eye on two key reports to know that you have control of your company’s financial health.
Small Business
Temporary full expensing (‘TFE’) provides support for businesses, and it encourages investments. Is your business eligible to claim an immediate tax deduction for the cost of an asset this financial year? Let's look at the impacts of the Temporary Full Expensing rules for small to medium enterprises.
Tax
The High Court has ruled that the ‘backpacker tax’ is discriminatory. We look at the impact.
Tax
A lighter look at the complexity of Australian taxation laws and the year that has been.
Small BusinessTax
The ATO has advised that inactive Australian Business Number’s may soon be automatically cancelled in a current review. Those who are unsure if their ABN is still active or not should get in touch with their accountant or bookkeeper.
Tax
The ATO has recently issued an alert on gifts or loans from overseas. The ATO is particularly concerned about schemes and arrangements designed specifically to circumvent Australian tax laws.
