The government retrospectively axed several tax concessions for small business when it repealed the mining tax. And the question that many small business owners may ask is, does this apply to me?
The Senate’s Economic References Committee, chaired by NSW Labor Senator Sam Dastyari, will launch an inquiry into cryptocurrencies such as bitcoin.
The decision by the government to repeal the mining tax could negatively impact small business owners who may have to pay back taxes if they placed a return linked with tax support provisions.
The Tax Commissioner believes bitcoin is not money or foreign currency and bitcoin transactions should be treated like barter trades, with similar tax results.
The Australian Taxation Office will audit more small businesses after new figures suggest the shadow economy is preventing about $25bn each year from being spent on the nation’s schools, hospitals and vital infrastructure. The figures, cited in News Corp Australia papers, point to a growing problem with business owners not declaring cash payments – a […]
The Australian Taxation Office has dealt a blow to businesses capitalising on the growth in crypto-currencies like Bitcoin by finding virtual currencies should not be treated as money. The move has triggered a push back with digital currency advocates warning of reduced competitiveness, weakened innovation and a further assault upon Australia’s struggling start-up sector. In […]
The ATO has sought to simplify information available to small businesses, developing an online “newsroom” to inform business owners about their tax and super obligations.
Wine producers will be instructed on tax compliance amid an ATO crackdown on rorters exploiting a tax loophole to claim rebates of up to $500,000. The Winemakers Federation of Australia and wine law firm Finlaysons will be travelling to wine making regions around the country to inform wine makers on how to avoid making the […]
This year 1,200 Tax Help volunteers will be on hand at 830 community centres across Australia to provide support to people having difficulty completing their own tax returns.
The ATO is urging all employers to ensure they have implemented the Superannuation Guarantee (SG) rate rise which increased to 9.5 per cent on 1 July 2014.
