29 January 2020
Maintaining accurate records for motor vehicle expense claims is vital to ensure you don’t get your claim rejected by the ATO.Read More
21 January 2020
MYOB AccountEdge not compatible with Catalina
MYOB announced last year that their AccountEdge product was not compatible with the latest version of Apple’s operating system, Catalina. They have now indicated that they are unable to find a suitable solution for the compatibility issue and are recommending the following for affected users:Read More
18 December 2019
The silly season is well and truly on its way! Many businesses close during the Christmas / New Year period which may be problematic when it comes to Single Touch Payroll reporting obligations.Read More
2 December 2019
The ATO is set to cancel inactive ABNs to ensure the integrity of information held on the Australian Business Register.
To help the ATO determine if an ABN is inactive, they will be examining information gathered from tax returns and other lodgments, as well as third party information.
If your ABN gets cancelled and you are still using it, you will be able to reapply to get it back.
If you reapply and your business structure remains the same, you will be able to get your previous ABN back.
If your business structure has changed (e.g. you were a sole trader but you’re now a company), you will be issued with a different ABN.
For more information, visit the ATO website
Contact the team at Shakespeare on 08 9321 2111 if you would like to discuss how this may apply to your individual circumstances.
Our firm provides the information on this website for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation.
Tax articles on this website are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided “as is,” with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose .
25 November 2019
It is vitally important that employers pay their superannuation guarantee obligations on time as even a marginal late payment of an employee’s superannuation can result in potential harsh penalties and interest amounts owing.Read More
25 November 2019
Fringe benefits tax (FBT) is a tax payable by employers for certain benefits that they provide to their employees (or an employees’ associate, such as a family member) in place of a salary or wage. FBT applies even if the benefit is provided by a third party under an arrangement with the employer.Read More