ATO payment arrangements
Circumstances will sometimes get in the way of your ability to pay a personal or business tax debt on time. If this is the case, it is vital to go
Employee or contractor?
Do you run a business and have or are thinking about hiring workers? If so, it’s important to understand the difference between contractors and employees, as you have different tax
More super for lower-income workers on the way
Did you know that lower-income earning individuals who earn less than $450 per month are currently not eligible for superannuation guarantee (SG) contributions from their employer? The $450 per month
Benefits of a corporate trustee structure for your SMSF
Thinking about setting up an SMSF? Or do you already have an SMSF with an individual trustee structure? If so, now might be the time to consider adopting a corporate
Independent audit review for small businesses
From 1 April 2021, the ATO’s independent review service has been made permanently available for eligible small businesses with a turnover less than $10 million. The service provides an additional option to
Voluntarily repaying JobKeeper and the ATO’s approach to tax treatment
The ATO has stated that eligible businesses that received JobKeeper payments do not need to repay those amounts. However, some businesses may choose to voluntarily repay an amount. This amount
FBT and vehicles under COVID-19 restrictions
The pandemic period under which we labour continues to have outcomes that may at first have not been obvious, but as time and lodgement considerations come to pass, more taxation
Regulator Roundup March 2020
Increasing maximum SMSF members to six is still official policy The SMSF Association held its annual conference recently, which was addressed by Assistant Minister for Superannaution, Senator Jane Hume, who
SMSF contribution paid this year, but you want to allocate to it next year
The ATO has in place a ruling that can allow a superannuation contribution to an accumulation account made in one financial year to be deemed to “take effect” (that is,
If you think the ATO got it wrong, here’s what you can do
You are allowed to take issue with the ATO if it disagrees with your self-assessment of your tax position. If you believe the ATO’s assessment is incorrect, the first step
Federal Budget 2019
The Treasurer Josh Frydenberg’s first budget has lots of goodies with few “baddies”. This was to be expected with the next federal election only weeks away and the Coalition Government trying
Regulatory Roundup – June 2018
Small business concessions under the spotlight The CGT concessions for small business are important for qualifying businesses in that they can defer, reduce or remove liability to CGT. The government
Regulatory Roundup – May 2018
Taxing digital products and low value goods to change When the GST Act and Regulations were drafted in 1999, e-commerce was in its infancy – it was not fully envisaged
Regulatory Roundup – April 2018
Require specific ATO advice on your SMSF? There’s a form for that The ATO says it can provide tailored technical assistance for SMSF trustees in some circumstances, orally
Regulatory Roundup – September 2017
Deduction for association subscriptions — eligibility can endure into retirement Many professional, business or trades people are members of an association, and during their working life subscribe to an appropriate