An accurate End of Financial Year (EOFY) stocktake is critical for maintaining precise financial records and ensuring tax compliance. This short video outlines the essential steps your business needs to take as June 30 approaches: Count Everything on June…
As we all know, the Australian tax rates 2024 are ever-changing, and staying true to their reputation Australian tax brackets 2024 are going to change! In a move that reflects both economic anticipation and a move to social equity, the…
With hundreds of thousands of directors yet to apply for their director identification number (director ID) ahead of the looming November deadline, a last-ditch public information campaign has been launched.
The 2022-23 federal Budget was handed down on 25 October. The confirmation of lucrative income tax cuts, and the scrapping of a tax offset for low- and middle-income earners were the big-ticket items.
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 does not replace any existing accounting or financial tools, although it can be used…
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 or storms, there is generally no need to worry about your tax affairs right away.
A business may cease to lodge single touch payroll (STP) reports for a number of reasons.
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 to it) may need to be determined where requirements may arise to obtain a tax valuation from the ATO.
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 2021.
The ATO has devised special rounding conventions where an amount of GST includes a fraction of a cent.
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