The Federal Treasurer, Dr Jim Chalmers, handed down the 2023–24 Federal Budget at 7:30 pm (AEST) on 9 May 2023. The following is a summary of the key tax reforms.Read More

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

  Tax-free payments for small and medium businesses have been increased to $100,000 each. Small and medium businesses will also now have access to cheap government guaranteed loans as part of the government’s $66 billion Coronavirus rescue package. The $100,000 can be used for wage subsidies. However workers who have been stood down or laid…Read More

PAYG and deductions for payments to workers The ATO has reminded business taxpayers they can no longer claim deductions for certain payments to workers if they have not met their PAYG withholding obligations from 1 July 2019.Read More