Our Recent Blogs
Extending administrative relief for companies to use technology.
The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001.
ATO warns property investors about common tax traps.
In 2019/20, over 1.8 million Australians owned rental properties and claimed $38 billion in deductions, so the ATO is reminding property investors to beware of common tax traps that can delay refunds or lead to an audit costing taxpayers time and money.
Time running out to register for the JobMaker Hiring Credit.
The JobMaker Hiring Credit scheme's third claim period is now open, so if a taxpayer has taken on additional eligible employees since 7 October 2020, they may be able to claim JobMaker Hiring Credit payments for their business.
Expansion of support for SMEs to access funding.
The Government is providing additional support to small and medium sized businesses ('SMEs') by expanding eligibility for the SME Recovery Loan Scheme.
Divisional 293 concessional contribution assessments have been issued.
The ATO has recently issued approximately 30,000 Division 293 assessments for the 2018/19 and 2019/20 financial years.
New FBT retraining and reskilling exemption available.
Recent legislative amendments mean that employers who provide training or education to redundant may now be exempt from FBT.
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).
ATO Tax Debt warning letter to businesses.
Businesses with over $100,000 in tax debt will begin to receive orange warning letters from the ATO, advising their intent to disclose their tax debt to credit reporting bureaus.