We are pleased to supply you with the latest edition of Client Alert, which contains information on several important developments up to and including 26 May 2021. Are you ready for Tax Time 2021? – COVID-19 has changed many people’s work situations, and the ATO expects...
Now a days, business refers to strategic planning, organization, direction, and most importantly control of finances within the organization. Accounting and business are like bread and butter and always go together. It is important for any business to ensure stable cash flow and estimating the capital...
What is it? Or how you end up with a CGT? CGT is a result of selling an income producing assets. A common example of a capital gain tax assets are the sell of rental investment and shares. How does it tax? You usually make a capital gain or...
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With businesses all around the country starting back up after the COVID-19 pandemic, many, including the federal government are hoping to trade their way out of a potentially prolonged recession. Businesses that are in relatively good shape can help the economy and themselves at the...
We’ve always been told that consolidating our super is one of the easiest ways to grow our retirement funds. By reducing the amount of insurance, account-keeping, and investment fees paid in separate accounts, more money is available for super investments. However, recent findings by ASIC...
The COVID-19 pandemic’s knock-on effect on the economy has meant that many landlords are feeling the strain as their tenants seek to delay paying rent or reducing rent in response to job loss. To reduce the uncertainty for landlords, the ATO has provided some guidance...
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...
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...
