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. Luckily, the ATO understands there may be businesses...
9 December 2019 The ATO now has the power to disclose tax debt information of a business to registered credit reporting bureaus (CRBs). Businesses who are currently working with the ATO to manage their tax debts will not have their information reported on. The measure...
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,...
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. For example, we have had...
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...
12 November 2019 From 1 July 2020, new rules will come into effect to ensure that an employee’s salary sacrifice contributions cannot be used to reduce the amount of superannuation guarantee (SG) paid by the employer. Under current rules, some employers are paying SG...
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