Payday Super has changed super payments, but for SMEs the bigger question is who owns compliance.
The credit data for March is out and it shows a business economy moving in two very different directions
The ATO has released a small business tax time toolbox to help small businesses complete their income tax returns.
The Australian Taxation Office (ATO) reports that, as of 1 July 2018, companies with 20 or more people on staff will be required to comply with a new system of real-time wage reporting called Single Touch Payroll. If you have fewer than 20 employees, you have an extra year, or until 1 July 2019, to […]
Investors who back startups in the BlueChilli portfolio will now enjoy an immediate tax deduction plus capital gains tax exemptions. This follows a private ruling by the Australian Taxation Office (ATO) approving BlueChilli as the nation’s first accelerator program with Early Stage Investment Company (ESIC) accreditation. Under ATO rules, investors who have met the agency’s sophisticated […]
Nearly 300,000 small businesses have taken advantage of the Federal Government’s $20,000 instant asset tax write-off scheme, according to 2015-16 tax office data. The data was revealed by Minister for Small Business Michael McCormack, who described the instant asset write-off program as a “shot in the arm” for small businesses. “The instant asset write-off is […]
Wednesday, 6 September 2017 Source: ATO Following a five-year rollout, superannuation members are now receiving an estimated $2.4 billion per year in savings thanks to SuperStream. SuperStream is one of the largest ever changes to Australia’s financial system, with an estimated investment across the industry of $1.5 billion. More than one million businesses have been involved […]
If you think that bookkeeping and accounting fees are high, consider this horror story, which could be the one tale that gets business owners thinking about their own business.
The number of small businesses facing insolvency has declined according to figures produced by the Australian Securities and Investment Commission.
The Australian Taxation Office (ATO) is currently targeting foreign funds transfers. Are you aware of your rights and responsibilities?
Each year the Australian Taxation office targets key sectors of Australian business for audit campaigns – in its Compliance in Focus 2013 notice, small businesses are among those to have drawn the short straw.
Taking on an employee is a serious part of the business as there are many pitfalls that can bring you unstuck if the right processes are not followed. We focus on the legal aspects of hiring an employee from a tax office and superannuation stand point.
More than half of small and medium businesses are not aware of important changes to the instant asset write-off scheme, according to a recent poll.
When a company struggles, there are plenty of creditors knocking at the door. However new ATO legislation extends the personal liability of directors for unpaid super and PAYG for their staff, making them a priority in who gets paid first.
Business owners are being invited to weigh in on how the R&D Tax Credit will be administered, with the tax now open for public consultation.
Like in the Amazing Race, we have entered the last leg and it’s now time to focus on your taxation obligations otherwise the ATO may eliminate you.
Happy June! The end of financial year ‘EOFY’ is almost upon us! I know that, for some of you, today signals added stress and more pressure. But that doesn’t need to be the case.
The recent news that the Federal Government is pushing the National Tax Summit to October and will not be covering key tax issues such as GST, the proposed carbon tax and the mining tax is worrying.
The end-of-year office drinks is a festive tradition in Australia, but the annual work Christmas party could cost companies in unexpected fringe benefits tax, according to Nexia Court & Co.
Ongoing uncertainty over the tax treatment of trusts has emerged as the top election issue for Australia’s taxation professionals.
The Australian Tax Office (ATO) has teachers, engineers and mechanics in its sights this year, advising that it plans to audit large claims from these professions for the 2009-2010 financial year.
Hospitals, schools and charities are all under threat by the Henry Tax Review’s proposed changes to Fringe Benefits Tax concessions according toaccounting firm BDO.
Is tax time a dreaded chore? A combination of annual accounts and audit fears? Mark Muller and Peter Bembrick look at how you can maximise the time and effort spent on preparing annual accounts and becoming audit ready by turning this into a valuable activity for improving your business. While not all businesses need to […]