Big four firm outlines new financial year checklist for SMSFs
With the new financial year starting, one of the big four accounting firms has highlighted the key areas on which SMSF professionals should focus their attention for SMSF clients.
Small business clients need to be ready for STP by 30 September
The original deadline of 1-7-2019 has been extended. Read more about what every small business needs to do by then.
2019: Tax Time Checklists – Individuals; Company; Trust; Partnership; and Super Funds
Printing and completing these checklists makes it more efficient for your tax agent to complete your tax returns. Doing so also helps maximise any refunds you receive or payments you have to make.
Alert – Online Share Accommodation
ATO flashes warning over $7.2bn car expenses claims
Over $7.2 billion in work-related car expenses claimed last year have placed the popular deduction firmly in the headlights of the ATO this tax time.
Vital statistics for our great nation.
3 out of 4 tax dob-ins are about business
The Tax Office has confirmed that the majority of “tip-offs” it receives about possible tax avoidance are related to business, amid concerns competitors may play dirty by “dobbing in” innocent businesses.
Tax on compensation received for inappropriate advice
Again, the answer to a tax question is “it all depends”.
‘Extra care’ crucial in avoiding ATO spotlight this tax time
Tax agents have been urged to apply “an extra bit of thought and extra care” into handling clients’ claims this tax time as ATO scrutiny mounts.
ATO clears up FAQs about Single Touch Payroll
Ahead of the 1 July deadline for small business to be compliant with the new Single Touch Payroll (STP) regime, the ATO and professionals alike have cleared up some common points of confusion about associated AUSkey
and myGov requirements.