NEWS & INSIGHTS
Low/ Middle Income Tax Offset Clarification
26 August 2019 As many of you are aware, recent tax legislation passed through Parliament which resulted in the ‘Low and Middle Income Tax Offset’ or commonly referred to as LMITO. Taxpayers have been expecting this small cash injection from the Australian Taxation...
Travel expense claims for small businesses
19 August 2019 Tax time tips: the ins and outs of business related travel expense claims. If you operate a small business, chances are you've incurred travel expenses as part of your day to day business activities. In most cases, these expenses will be tax deductible,...
Cash payments over $10,000 set to be outlawed from 2020
14 August 2019 From 1 January 2020, the Government intends to restrict the value of cash payments a business makes or accepts to amounts under $10,000. Ignoring the limit will become a criminal offence with penalties of up to 2 years in prison and/ or $25,200*....
Aussies falling victim to scams in record numbers
13 August 2019 The old saying goes: if it sounds too good to be true, it probably is. According to the Australian Competition and Consumer Commission (ACCC), Australians have been scammed out of more than $78 million dollars so far this year, based on data reported to...
ATO to visit 700 businesses in Broome & Kununurra
5 August 2019 The Australian Taxation Office (ATO) has announced it will be conducting visits to approx 700 small businesses throughout August in the following areas: Broome, Cable Beach, Derby and Kununurra. The visits are part of the ATO's crackdown on the...
Protect your business from cybercrime
31 July 2019 The Australian Taxation Office (ATO) is reminding business owners to be vigilant with their cyber security, particularly during tax time. It's not just about protecting your money, it's also about ensuring your customer information is kept safe. Here are...
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