Amidst the Coronavirus pandemic, many routine things have slipped under the radar, one of which is the various data-matching programs still going on at the ATO. One of the more significant data-matching programs currently occurring is on ride sourcing or ride sharing. Ride sourcing or...
After a challenging couple of months with COVID-19 restrictions, Adelaide is leading the way with its quick response and no new cases. Well done SA. As we move towards the next stage of COVID-19 this month’s newsletter discusses the Government stimulus packages available and what...
The ATO has released its practical administrative approach to businesses claiming the JobKeeper payment. Generally, it notes that it would only apply compliance resources to what would amount to a “scheme” in terms of the entity and its external operating environment. For example, if an...
COVID-19 pandemic has wrought havoc on a global scale, causing almost every country around the world to lockdown their population and close their borders. This has drastically affected international travel and movement across borders, which is causing unintended consequences for individuals that are not Australian...
The long-awaited final ruling in relation to FBT car parking fringe benefits has been delayed until at least mid-2020. With this date being so close to the original proposed implementation date in the draft ruling (Draft TR 2019/D5), the ATO has decided that any changes...
SMSFs entering into arrangements which involve the purchase and development of real property for subsequent disposal or leasing should beware, the ATO is keeping a close eye on these types of agreements, irrespective of whether they are with related or unrelated parties. As outlined in a...
As a part of the government’s coronavirus economic response package, a provision was inserted into the Corporations Act 2001 to provide temporary relief (safe habour) for directors of financially distressed business from potential personal liability for insolvent trading. This was designed to counter the pressure...
Prior to the disruptor that is the Coronavirus epidemic, the Assistant Minister for Superannuation, Financial Services and Financial Technology, Senator Jane Hume outlined some future government policy and potential changes to superannuation and SMSFs. Senator Hume said the government was still committed to enacting legislation...
If your business is one of the tens of thousands of businesses to register for the JobKeeper payment early, there’s good news, claims for the payment is now open. There are a few steps involved in claiming, so make sure you have all the relevant...
In line with various concessions provided to businesses to soften the blow of the COVID-19 pandemic, the ATO has now released the following details of concessions for self-managed super funds (SMSFs) as well as advice: SMSFs temporarily reducing rent - due to COVID-19, many landlords are...