Letters are being sent by the ATO to directors of companies with overdue debts, cautioning that non-payment or lack of communication may lead to a director penalty notice (DPN) being issued.
Does your company have an overdue debt? Read More »
In a pre-Budget announcement, the Government has committed to a Small Business Energy Incentive Scheme that offers a bonus tax deduction of up to $20,000.
$20k Small Business Energy Incentive Read More »
Employers report their pay as you go (PAYG) withholding information to the ATO each time they pay their employees using Single Touch Payroll (STP).
ATO PAYGW prefill is coming to activity statements Read More »
If you have business assets which are expected to decline in value over time, such as machinery, motor vehicles, furniture, computers and phones, it’s likely that you would have claimed a depreciation expense.
The low down on depreciation Read More »
When you start up a business, inevitably, it consumes not just a lot of time but a lot of cash and much of this is money you have already paid tax on. So, it only seems fair that when the business is up and running the business can pay you back. Right?
Company money: A guide for owners Read More »
TFE, is due to finish on 30th June 2023! Find out more about Temporary Full Expensing in this short video where Pat Mannix explains the in’s and out’s for eligible businesses.
Temporary Full Expensing (TFE) due to finish soon! Read More »
In a very quick turnaround from announcement to draft legislation, Treasury has released the exposure draft legislation for consultation to enact the Government’s intention to impose a 30% tax on future superannuation fund earnings where the member’s total superannuation balance is above $3m.
Update: Tax on super balances above $3m Read More »
From 1 July 2023, a new reporting regime will require platforms that enable taxi services including ride sourcing, and short-term accommodation to report their transactions to the ATO each year. From 1 July 2024, the regime will expand to include all other platforms.
What sharing platforms are sharing with the ATO Read More »
Earn-out clauses for the sale of a business are increasingly common. We look at the positives and negatives that every business owner should consider.
Selling a business? The pros and cons of earn-out clauses Read More »
Just in time for the Fringe Benefits Tax (FBT) year that started on 1 April, the Australian Taxation Office (ATO) has released new details on electric vehicles.
How Does Tax Apply to Electric Cars? Read More »
