Take advantage of your carry forward cap
2021 may have had a subdued start, but a new year brings in new resolutions, perhaps one of your resolutions this year is to boost your super balance so you can enjoy an early retirement. Even if retirement is not on the horizon for you, it is good practice to take any opportunity to grow …
Data-matching program: online selling
Online sellers beware, the ATO has extended its current data-matching program for another 4 years to ensure that businesses and individuals are correctly meeting their registration, lodgment and tax obligations. The current program will affect most sellers on eBay Australia and New Zealand as well as Amazon. It is expected that around 20,000 to 30,000 …
Insolvency changes to help businesses
While the government continues to help businesses through the current pandemic-related recovery with various revenue measures, it is inevitable that some businesses may not make the journey back. To assist those businesses with dealing with insolvency issues, the government has made significant changes to the framework to introduce a new, simplified debt restructuring process. The …
Small businesses: don’t forget your FBT concessions
During these challenging economic times, many small businesses are still in the recovery phase where every dollar counts, the last thing these businesses need is to be paying more tax than they should. So, if you’re a small business don’t forget that you can access a variety of concessions including those related to FBT. These …