March 11, 2021

A “Cash Flow Coaching Kit” by the ATO for small businesses

The ATO has produced a “Cash Flow Coaching Kit”, which is a free resource and designed as a value-add advisory tool for small business owners. It […]
February 22, 2021

Tax Impacts of Natural Disasters

The ATO sheds some light on the tax impacts of natural disasters. It says that if you are affected by natural disasters, such as bushfires, floods […]
February 11, 2021

Single touch payroll: When your reporting can cease

A business may cease to lodge single touch payroll (STP) reports for a number of reasons. These are if your business no longer has employees, has […]
February 7, 2021

Getting a tax valuation from the ATO

Not every individual situation fits neatly with the tax laws as they stand — sometimes a taxable item’s known value (and therefore the tax that applies […]
February 5, 2021

JobMaker hiring credit: What you need to know

The JobMaker Hiring Credit scheme was passed into law in mid-November 2020. JobMaker was part of the 2020-21 Federal Budget, and will operate until 6 October […]
January 29, 2021

Rounding of GST where fractions of a cent result

The ATO has devised special rounding conventions where an amount of GST includes a fraction of a cent. Although it labels these conventions “rules”, there is […]
January 21, 2021

New Data Matching Programs Initiated by Federal Government

Over the first quarter of this financial year, the government has initiated two new data-matching programs, using data that the ATO holds. Data matching involves gathering […]
January 17, 2021

ATO takes aim at ‘you-scratch-my-back’ auditing arrangements

It has long been an accepted standard that the auditor of an SMSF needs to be independent of that fund, and be a third party entity […]
January 11, 2021

Claiming Interest Expenses for Rental Properties

Did you know that if you take out a loan to purchase a rental property, you can claimthe interest charged on that loan, or a portion […]