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ATO’s lodgment penalty amnesty is about to end   The ATO is remitting failure to lodge penalties for eligible small businesses.  Businesses which have not yet taken advantage of the ATO’s lodgment penalty amnesty only have until 31 December 2023 to do so. Businesses must meet the following criteria in order to be eligible for…
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Expanding Employer Sponsored Pathways to Permanent Residence (PR)   On 11 December 2023, the Government released the long awaited Migration Strategy, a 100-page document that includes the strategy that the Government intends to implement in relation to migration into Australia. The strategy is based on 8 key actions:
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Expanding Employer Sponsored Pathways to Permanent Residence (PR)   The Australian Government has announced changes to Australia’s migration system to ensure temporary skilled workers have a pathway to PR. To support this, the Department of Home Affairs is currently working on changes to the:
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Tax issues for businesses that have received a support payment   Taxpayers who have received a government support grant or payment recently to help their business recover from COVID-19 or a natural disaster should check if they need to include the payment in their assessable income. Grants are generally treated as assessable income, and taxpayers…
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States and Territories – Nominations status – Subclasses 190 and 491   The program places for the States and Territories nomination programs have been drastically reduced for the 2023-24 program year.  There are variations in the way each state or territory authority is handling its allocation.
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Taxpayers need to get their ‘rental right’   The ATO reminds rental property owners and their tax agents to take care when lodging their tax returns this tax time.  When preparing their tax returns, taxpayers should make sure all rental income is included, including income from short-term rental arrangements, renting part of a home, and…
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Pandemic stream SC 408 Visa closing    Migration (COVID-19 Pandemic event for Temporary Activity (Subclass 408) visa) Amendment Instrument (LIN 23/061) 2023, amends LIN 22/046 with the effect of closing the ‘COVID’ stream of this visa subclass to new applications from 2 September 2023 and for subsequent applications by current Pandemic Event visa holders until 1 February 2024.
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Appointing an SMSF auditor   The ATO reminds SMSF trustees that they need to appoint an approved SMSF auditor for each income year, no later than 45 days before they need to lodge their SMSF annual return.
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Claiming GST credits for employee expense reimbursements   Employers may be entitled to claim GST input tax credits for payments they have made to reimburse employees for expenses that are directly related to their business activities.
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Department produces guidance of employers   The Australian Department of Home Affairs is making information more readily available for employers wanting to: employ a visa holder already in Australia, or looking to sponsor an overseas worker,
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