What is the CGT Active Asset Reduction?
The Active Asset Reduction is one of the CGT concessions available to small business entities. If your CGT asset passes the relevant tests,
Pay your taxes on time! An Introduction to ATO interest and Penalties
There are 3 main classes of additional amounts the ATO can add to a taxpayer’s tax liability. These are normally issued when a tax return, B
What is the default assessment and how will it impact you.
The ATO has a wide range of options and strategies to ensure taxpayers lodge their tax returns or activity statements on time. When these at
Tax Agents out of the loop - what ATO correspondence changes mean for you?
In response to sustainability and environmental concerns, the ATO is taking measures to reduce the amount of paper correspondence it sends t
What is ABN withholding?
ABN withholding occurs when a supplier does not have, or does not advise you with their ABN for the goods or services they supply to your bu
What does ATO Data Checking mean for your income tax return?
Many see their income tax return as a necessary evil and attempt to play the system to their benefit.
It is important to recognise that your
What the TPAR means for you if you're a cleaner or courier?
The ATO has extended the group of businesses which must prepare and lodge the ‘Taxable Payments Annual Report’ to include businesses which o
5 Tax Mistakes That Could Get You Audited
5 Tax Mistakes That Could Get You Audited Tax Time is the most stressful time of the year. Having to get everything sorted, and itemized...
CALCULATING YOUR CAR DEDUCTIONS
Tax Tips from the ATO - CALCULATING YOUR CAR DEDUCTIONS.
What the Superannuation Guarantee Amnesty Could Mean for Your Business
The amnesty encourages employers to voluntarily disclose and pay their superannuation guarantee shortfalls, in return for the slate to be wi
