ATO support for businesses in difficult times   The ATO has reminded taxpayers that it has a range of support available for small businesses experiencing difficult situations, such as natural disasters, mental health challenges or financial hardship. Depending on the business taxpayer’s circumstances, the ATO may be able to:Read More

Super is now following new employees   The ATO is reminding employers that, as of 1 November 2021, there is an extra step they may need to take to comply with the choice of super fund rules.Read More

Preparing for the new Director ID regime   As part of its Digital Business Plan, the Government announced the full implementation of the ‘Modernising Business Registers’ program. Read More

Extra super step when hiring new employees   Employers may soon need to do something extra when a new employee starts to work for them.Read More

Extending administrative relief for companies to use technology   The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001Read More

Reminder of superannuation caps indexation for 2022   From 1 July 2021, the superannuation contributions caps have been indexed for the 2022 income year.Read More

Super guarantee contribution due date for June 2021 quarter   The due date for employers to make super guarantee contributions for their employees for the June 2021 quarter is 28 July 2021.Read More

Many of our business clients like to review their tax position before the end of the income year and evaluate any strategies that may be available to legitimately reduce their tax.  Traditionally, year-end tax planning for small businesses is based around accelerating deductions and deferring income.  However, this year, consideration will also need to be…Read More

Tax saving strategies prior to 1 July 2021   A strategy often used to reduce taxable income (and, in turn, tax payable) in an income year is to bring forward any expected or planned deductible expenditure from a later income year.  However, in light of the continued impact of the COVID-19 pandemic, any tax planning…Read More

Cryptocurrency under the microscope this tax time   The ATO is concerned that many taxpayers believe their cryptocurrency gains are tax-free, or only taxable when the holdings are cashed back into Australian dollars.Read More