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Posts Tagged ‘ATO’

Another ATO Rental Property Crackdown

May 5th, 2023

Just as they did in 2019, the ATO are launching a campaign to target rental property owners who incorrectly report income and expenses. Data-matching efforts have identified a tax gap of approximately $1 billion, and unsurprising are looking to recoup those funds. Financial institutions are now obliged to share data with the ATO, and thereread more

The Benefits of Tax Planning for Your Bottom Line

March 29th, 2023

Tax Planning season is here! With 30 June fast approaching, now is the time to consider tax planning for your business. They say that if you fail to prepare, prepare to fail – or in this case, prepare to potentially deal with a hefty tax bill and disrupted cash flow! Getting a clear picture ofread more

Electric Vehicles – Efficient for the Environment… and Your Tax Bill?

November 11th, 2022

As the world begins to embrace electric vehicles as a suitable alternative to fossil fuel-powered transport, the Australian Government has planned to reach “net zero emissions” following the passing of Climate Change Bills. The Government’s objective in providing the FBT exemption for electric cars is to encourage increased use of electric cars on the roadread more

Corporate Sponsorship – Understanding the Tax Implications

September 30th, 2022

As accountants and business advisers, we help clients make the most of their business expenditure from a tax point of view, and a number of clients ask us how corporate sponsorship affects their tax position, both when they’re considering sponsorship for a sporting club (or similar), and when they’re offering sponsorship opportunities for other businesses.read more

Important Payroll & Superannuation Updates

June 28th, 2022

As we wave goodbye to another Financial Year, it is important that you are aware of the important updates to payroll and superannuation that took effect from 1 July 2022. In this article, we’ll look at the changes and what you may need to be prepared for now that they are in force. Superannuation Guarantee One ofread more

SMEs and WA’s Eased COVID Restrictions

April 28th, 2022

On Tuesday 26 April, the State Government announced that as of 12.01am Friday 29 April, prevailing COVID restrictions will be eased, thanks to WA’s ‘soft landing’ off the back of our Omicron peak confirmed by public health data. This is undoubtedly great news for West Australians – it means that we have come through thisread more

Section 100A – How the ATO’s Crackdown on Family Trusts Might Impact You

March 30th, 2022

For years, many Australians, particularly those operating businesses, have used family trust structures as a wealth creation vehicle. The ATO has previously put trust distributions and their tax treatment under the microscope but have now refocused their attention to Section 100A ‘Reimbursement Agreements’. This could significantly impact on the overall tax position of any familyread more

Update – ATO Electronic Correspondence and Communication Preferences

November 19th, 2021

You may have caught our article a few months ago regarding the moves the Australian Taxation Office (ATO) is making in shifting their correspondence to business owners from paper-based “snail mail” to electronic formats. As the roll-out and wider adoption of these changes continues, we are seeing a few instances where information isn’t reaching theread more

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