The Australian Taxation Office is encouraging self-lodgers who are yet to hand in their tax return to use myTax, the revenue collection agency’s new streamlined system designed for those with straightforward tax affairs.
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.
If you employ the services of any building and construction contractors, from 1 July the ATO will be adding some new reporting requirements. Here’s what the new obligation will mean for your business.
A struggling company can quickly become a serious liability, and the flow-on effects can impact on a director’s personal assets. Here’s a look at one way a director can become liable and what can be done to avoid it.
The issue of Personal Service Income (PSI) will continue to be a major focus of ATO compliance activities in 2012. Here’s what you need to know.
The Australian Taxation Office has more government funding than ever before, intended to help it ensure all taxpayers pay what they’re obliged to. To avoid unwanted attention, an expert is urging all businesses to check the ATO’s benchmarking records, to ensure their percentages are in the acceptable range for their industry.
The cost of getting the classification of contractors wrong is high and anyone with contractors on their books needs to make sure that they’ve been correctly classified for tax, superannuation and fair work purposes.
There’s been a strong rise in the number of businesses entering external administration (EXAD) for the three months to September, as poor sales and increased creditor activity takes its toll.
Why bother putting effort into choosing a good accountant? Quite simply, he or she could very well become the best possible advisor for your business.
The number of businesses entering external administration jumped almost 6 percent in the last financial year, with insolvency practitioners reporting more activity in the SME sector as a result of tighter Australian Taxation Office debt recovery.
