STP Expansion: Extra reporting obligations
Single Touch Payroll (‘STP’) reporting has been expanded with extra reporting obligations for employers.
GST Fraud
The ATO is warning taxpayers about GST fraud and to be on the lookout for dodgy online ads, often on social media platforms, promising easy GST refunds.
Penalties for small employers failing to commence STP reporting
Small employers are on notice as the ATO gets serious about Single Touch Payroll (STP) reporting.
The ‘gigs up’ with a new sharing economy reporting regime
Treasury has released draft legislation introducing the long-awaited third party reporting regime (proposed to apply from 1 July 2022). The new regime will initially require ride-sharing and short term accommodation online platform operators to report transactions they facilitate directly to the ATO.
60,000 businesses non-compliant with 2019/20 tax lodgment
The ATO has confirmed that more than 60,000 businesses have not yet complied with lodgment requirements under the taxable payments reporting system (‘TPRS’) for 2019/20.
JobKeeper comes to an end
The ATO has advised that the final JobKeeper payment will be processed in April 2021.
Strong foundations. Strong business.
You can’t build a strong business on weak foundations. Strengthening your business foundations can make a big difference to your business success, and of course, your personal prosperity… If you are looking to move your business forward, it’s important to take the time to get your business fundamentals right, and often it’s just a few…
New government measures from 1 January 2021
The Government has provided an update of a number of new measures which came into effect from 1 January 2021, including (among others): The most significant changes to Australia’s insolvency framework in 30 years, which are intended to reduce costs, cut red tape and help more small businesses recover from the pandemic. The reforms introduce…
Remaining relevant is the key to continued business success
If you want your business to remain relevant and continue to grow, it’s time to be proactive … and in our experience it’s often small and easy-to-implement actions that can significantly improve your business success (and personal prosperity). Here are THREE key considerations for business owners that can help your business remain relevant now and…
It’s time to change the way you think about tax
If you want to make the most of tax efficiencies or avoid an unexpected tax bill you might need to change the way you think about tax – Tax planning should start in July. Business owners commonly pay more tax than they need to by leaving their tax planning until the last minute. You can…