29 January 2020 Time is running out to utilise the Government’s $30,000 Instant Asset Write Off Scheme. The scheme, which allows small businesses to write off asset purchases under $30,000, is due to end on June 30. From April 2019, businesses with a turnover of...
28 January 2020 The ATO is once again rolling out a series of free workshops and webinars for small business owners. From February to June, the ATO will be presenting workshops based around the fundamentals of starting and running a small business. Topics include:...
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...
23 October 2019 If you own a private company, a common area of tax legislation that impacts shareholders and their associates is Division 7A of the Income Tax Act. A company is considered a separate legal entity. For this reason, the highest tax rate payable by a...
23 October 2019 The ATO recently released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated ‘tax gap’. These new figures give visibility to tax compliance issues within the small business sector and indicate where we can...
Recent Comments