Tag: ATO

With the end of financial year just around the corner, it’s a great time to consider the results for this year and what you want to achieve next year.

With one month to go until the end of financial year, around one third of SMEs are making inroads into their financial reporting obligations – the majority will leave it to the last minute.

As the end of financial year approaches, the Australian Taxation Office (ATO) is expected to data-match over 640 million transactions to tax returns this year.

An array of factors including sustained pay inequality, a high prevalence of participation in part time work and career breaks for family mean there is a significant super gap between men and women’s retirement savings.

Small business has found itself smack bang on the national agenda this year, with the federal small business portfolio upgraded to cabinet status at the last election.

It’s the unsexy topic we love to avoid. Superannuation gets filed in that box of life admin tasks right alongside insurance and phone plans.

Not paying ATO debts is a dangerous game. The reason being, the ATO have powers far greater than other business creditors.

From 1 July 2014, businesses with 20 or more employees will be able to use the new Superannuation Data & Payment Standard when making super contributions.

The common question we’re asked by many clients is, “how much of client Christmas entertainment can I claim as an income tax deduction?”

Now that the gruelling 2013 election campaign is behind us, our attention can turn to the issues of growing debt to gross domestic product and the dwindling tax revenue in Australia.