Despite its support of business during COVID-19, the Federal Government won’t give you a pass when it comes to your EOFY obligations.
EOFY doesn’t have to be a mad rush. These last-minute tips will put you in the best position to start the next financial year.
EOFY tips to help you prepare for future returns and avoid missing payments or obligations you could overlook.
To help SMEs get back on their feet after a challenging year, the Australian Taxation Office (ATO) has compiled a directory of Government resources that support Australian businesses.
Small businesses with an annual turnover of under $10 million are eligible to apply for the service…
$22.68 million in penalties have been handed down by the Federal Court, the largest amount in Research and Development Tax (R&DT) history.
With only three months remaining for this financial year, small businesses might be wondering how the recent stimulus changes may affect their end of year tax. The government has introduced a range of measures to support businesses and employees through the crisis in response to coronavirus, to help small businesses that may have had to… Continue reading Coronavirus and End of Financial Year tax returns: What is affected?
Unsure of your employer tax obligations and tax relief options during this uncertain time? The Australian Tax Office (ATO) is encouraging business impacted by the COVID-19 pandemic to get in touch with them to discuss relief options. However, with so many businesses looking for answers right now, we thought we’d summarise some of the biggest… Continue reading Employer tax obligations and relief options during COVID-19
John Shepherd, Assistant Commissioner, Australian Taxation Office delves into some of the finer detail ahead of the 1 July move to Single Touch Payroll (STP), a change to the way larger employers report tax and super to the ATO. The 1 July start for Single Touch Payroll (STP) is fast approaching, and all larger employers,… Continue reading Ready for STP payroll? The latest ATO update
Much has been said about the benefits SMEs will see from new draft legislation recently proposed by the Federal Minister for Revenue and Financial Services authorising the Australian Taxation Office to disclose business tax debts to credit reporting bureaus. While the stated aim is to “help the SME sector”, in reality SMEs will be largely… Continue reading Proposed tax debt disclosure laws ‘unlikely to help SMEs’, says debt collection agency’s CEO