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ATO  expects 200,000 to miss out on refunds by failing to lodge

            The ATO expects that 200,000 people could miss out on a tax refund this year because they haven’t lodged a tax return. Many salary

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Biggest personal tax cuts in a decade a priority for Government

Prime Minister Scott Morrison has signalled that getting his tax changes through parliament will be a top priority for his re-elected government.

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Government rules out GST changes following ATO report

The government has turned down suggestions that it is considering broadening the GST base, following reports that the ATO had called for GST to be revisited on certain exempt food items.

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ATO issues warning after ‘unprecedented’ spike in impersonation scams

Over $1 million in losses and more than 40,000 impersonation scams has raised alarm bells at the tax office, with clients warned on impersonated ATO phone numbers and pre-recorded messages.

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Crypto transactions in ATO sights with new data-matching program

Up to 1 million taxpayers who have engaged in buying, selling or transferring cryptocurrency will now be subject to ATO scrutiny as it begins a new data-matching program ahead of tax time.

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Government to establish $2 billion fund for small business lending

            The Government has announced that it will establish a $2 billion Australian Business Securitisation Fund and an Australian Business Growth Fund to provide longer-term

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Small business corporate tax rates Bill is now law

              The company tax rate for base rate entities will now reduce from 27.5% to 26% in 2020–2021, and then to 25% for 2021–2022

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ATO to double rental deduction audits to 4,500

ATO audits of rental deduction claims will double this tax time as the agency reinforces its claims that nine out of 10 deductions contained an error.

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ATO set to issue excess super contribution determinations

            The Australian Taxation Office has started issuing excess concessional contributions (ECC) determinations for the 2017–2018 financial year. Superannuation fund members will receive these ECC

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How’s Australia going as we approach the election?

            One great source of data about Australia. Become better acquainted with the country we love. An up-to-date snapshot of Australia's vital statistics.   Please click

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Single Touch Payroll (STP) is compulsory for all small businesses.

STP is mandatory for all small Australian businesses with 19 or less employees and it starts on the 1st July 2019.  Are you ready?  Your Accountant can help with any questions you have.

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Federal Budget 2019 – Overview

The Government’s economic plan and this Budget are building a stronger economy and securing a better future for all Australians. This Budget and our economic plan are:

  • Returning the budget to surplus
  • Delivering more jobs
  • Providing lower taxes
  • Guaranteeing essential services like Medicare, schools, hospitals and roads

 

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