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Posts Tagged ‘ATO’
SMEs and WA’s Eased COVID Restrictions
April 28th, 2022On 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, 2022For 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, 2021You 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
Annual Wage Review – Final Stage
November 3rd, 2021Earlier this year, we covered the 2.5% increase to the national minimum wage and all award wages (see the article here). The changes have been rolled out in three stages, and we’re already at the third! The increases announced as a result of the Annual Wage Review first came into effect on 1 July, withread more
31 October Tax Deadline – Are You Ready?
October 28th, 2021It may feel like 1 July was only the other week, but wouldn’t you just know it – we’re just about at the end of October. With that, it’s worth the reminder that 31 October is the deadline for lodging your tax return if you are planning on doing so yourself. This means you haveread more
Stapled Superannuation Funds and Other Super Updates
October 15th, 2021Many Australians are familiar with the frustration and financial cost of maintaining several superannuation funds as we change jobs over time. As employers have a default fund, into which many new starters will elect to have their super paid, a large number of workers end up with multiple super funds that may have very littleread more
Demystifying the Employee vs Contractor Confusion
September 3rd, 2021Finding employment solutions for your business is a challenge - sourcing the right person, with appropriate experience, at a fair wage, isn't always easy. Furthermore, classifying your workers correctly as a contractor or employee may not always be clear when you're recruiting for a role, and is an area where many businesses have been caughtread more
Getting Ahead of Your Next Tax Return
August 12th, 2021The 2021-22 Financial Year is already several months old now (if you can believe that), and by now many taxpayers have their ducks in a row to lodge their tax return for 2020-21. But while that’s happening, clever business owners and salary earners are putting down the groundwork to make next years’ an absolute breeze.read more
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