Banking business income to a private account The ATO has stated that it has “no concerns” with business owners banking their business takings or other sales in private accounts, but that this may become an issue when this income isn’t reported.Read More
ATO’s small business focus for 2022 income year The ATO announced that it will be focussing on the following matters for small business tax returns for the 2021/22 year:Read 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 opt-out for high income earners now law From 1 January 2020, eligible individuals with multiple employers can apply to opt out of receiving super guarantee (‘SG’) from some of their employers, to help them avoid unintentionally going over the concessional contributions cap.Read More