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Never Shorten 2020 To 20 On Legal Documents

Monday, January 13, 2020

Here’s Why You Should Never Shorten 2020 To 20 On Legal Documents When you sign and date legal documents this new year, it would make sense to shorten 2020 to 20, wouldn’t it? Apparently not, according to law enforcement, who are warning that this habit could put you at major risk of fraud. The problem […]

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Client Alert December 2019

Tuesday, December 10, 2019

ATO debts may affect your credit rating Businesses with tax debts need to be aware that the ATO will now be able to disclose the details of their tax debts to credit ratings agencies, which could potentially affect the ability of the business to obtain finance or refinance existing debt. Generally, only businesses with an […]

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Special Bulletin – Director Penalty Notices

Monday, November 25, 2019

Director Penalty Notices for GST coming soon! Parliament is currently considering legislation to include GST in the Director Penalty Notice Regime, and it could come into effect as soon as January 1 2020. A Director Penalty Notice is a Notice that the Australian Tax Office (“ATO“) can send to a director that can make that […]

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Client Alert October/November 2019

Friday, November 8, 2019

Getting the benefit of your business tax losses When you’re starting a new business venture, it may take some time before the business becomes profitable. And there may be other situations where an established business operates at a loss in a particular year. So, what does this mean tax-wise? When your deductions in an income […]

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Client Alert August / September

Tuesday, September 10, 2019

Warning to watch out for myGov and ATO tax scams The government’s Stay Smart Online website warns there has been a surge in scammers impersonating myGov and the ATO to trick people into giving them money or personal details. These scams can take the form of emails, text messages and fake myGov login pages. In […]

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Client Alert – Special Tax Planning

Friday, June 21, 2019

Tax planning With the end of the 2019 income tax year upon us, this issue draws attention to year-end tax planning strategies and compliance matters that you need to consider to ensure good tax health. It focuses on the most important issues for small to medium businesses and individuals to consider. Tip: This is general […]

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Client Alert April/May

Thursday, May 9, 2019

ATO to ramp up ABN investigations and cancellations As part of the ATO’s work to ensure the integrity of the Australian Business Register, it investigates the business activities of Australian Business Number (ABN) holders when it seems their ABN is no longer being used – for example, if business income isn’t being reported, or where […]

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financial services misconduct

Monday, April 8, 2019

Are our pollies dropping the ball on financial services misconduct? Remember the Royal Commission into the financial services industry? It almost feels like ancient history now, doesn’t it? At the time, of course, it was all that many people were talking about. Such was the trail of destruction uncovered by the inquiry, hardly a week went […]

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BUDGET 2019 Summary – April 2019

Thursday, April 4, 2019

PERSONAL TAXATION Personal tax cuts: low–mid tax offset increase now; more rate changes from 2022 In the 2019–2020 Federal Budget, the Coalition Government announced its intention to provide further reductions in tax through the non-refundable low and middle income tax offset (LMITO). Under the changes, the maximum reduction in an eligible individual’s tax from the […]

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Client Alert February / March 2019

Tuesday, March 26, 2019

Single Touch Payroll reporting for small businesses: get ready! Legislation has recently passed to bring in Single Touch Payroll (STP) reporting for all small employers (with fewer than 20 employees) from 1 July 2019. STP is a payday reporting arrangement where employers need to send tax and superannuation information to the ATO from their payroll or accounting […]

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