Tax time targets

Tax time targets

 The ATO has flagged four priority areas where people are making mistakes this tax season. With tax season almost upon us, the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season. 1.     Record-keeping2.     Work-related...
What to expect from the new Australian Government

What to expect from the new Australian Government

The Governor-General has sworn in Australia’s thirty-first Prime Minister, Anthony Albanese. The new Government faces plenty of problems and no easy fixes. Here’s what we know so far about their policies. The economy The Government has stated that its economic...
What’s changing on 1 July 2022?

What’s changing on 1 July 2022?

A series of reforms and changes will commence on 1 July 2022. Here’s what is coming up: For business Superannuation guarantee increase to 10.5% The Superannuation Guarantee (SG) rate will rise from 10% to 10.5% on 1 July 2022 and will continue to increase by 0.5% each...
ATO ramps up heat on directors

ATO ramps up heat on directors

Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations. These letters are a warning shot and...
Federal Budget 2022-23: For Business

Federal Budget 2022-23: For Business

$120 deduction for every $100 spent on technology From7:30pm AEDT, 29 March 2022 until 30 June 2023 The Government intends to provide a 120% tax deduction for expenditure incurred by small businesses on business expenses and depreciating assets that support their...