Blog tagged as ATO Rules

Welcome to 2023! To help you understand your tax obligations as you get back into the swing of things, here is a list of key tax dates for February and March 2023.

Operators of sharing economy platforms now required to report transactions to the ATO from 1 July 2023. If you operate in these platforms, such as ride share or short-term accommodation, make sure this information comes to us for your tax return.

Operators of sharing economy platforms will be required to report transactional information to the ATO from 1 July 2023. If you are operating in these platforms, make sure your information comes to us when we complete your tax return.

A measure contained in the October 2022 Federal Budget may give you an entitlement on the Commonwealth Seniors Health Card. Find out if you'll become eligible.

Small businesses may soon be able to apply to the Administrative Appeals Tribunal (AAT) to pause or modify ATO debt recovery action for debts being disputed in the AAT.

Paid Family and Domestic Violence Leave becomes an entitlement for employees in 2023. All employees (including casuals) can access this leave type from day one of employment, so talk to us to start planning for changes to payroll provisions and costs.

The new 'Secure Jobs, Better Pay' Bill 2022 brings major changes to employment laws. While most of the changes roll out over the next 6-12 months, some take effect now. Talk to us about reviewing your HR documents.

This festive season you may wish to give money to those less fortunate via crowdfunding campaigns. Know the tax implications before you jump in.

You’ve sold your business and have the money burning a hole in your pocket. What happens next? We’ve got some great options for your post-exit life to consider.

Are you managing your farm’s payroll on paper or spreadsheets? The FWO and ATO are actively investigating agribusiness payroll records. Talk to us about getting a digital system that will save time and money and make payroll record keeping a breeze.

The ATO will be given powers to direct a taxpayer to undertake a record-keeping education course in lieu of an administrative penalty.

The October 2022 Federal Budget contains measures which may provide you with an ability to earn some extra income without hurting your social security entitlements, to ease cost of living pressures.

Age pensioners and income recipients are set to benefit from a change in rules to the eligibility tests in relation to their principal home. See how changes to the income and assets tests may affect you.

If you’re not already using Single Touch Payroll Phase 2 in your payroll software, you may have more time before you have to start using STP 2. Talk to us today to check your payroll systems and software before upgrading to STP Phase 2.

Small businesses will get a bonus tax deduction on top of the allowable deduction for training their employees.

Does your business buy products and services from overseas suppliers? If so, you may be charged GST, but not always! We can review your accounts and software tax codes to make sure GST claims on overseas purchases are correct.

Crypto assets are being specifically excluded from being foreign currency for income tax purposes, with exposure draft legislation released.

The ATO is resuming debt recovery action and issuing director penalty notices. If you’ve received a DPN letter about personal liability for business debt, talk to us so we can help manage your finances and your business ops can continue uninterrupted.

Not sure about the guidelines for cashing out annual leave? You need to know some essential rules before paying out annual leave so that employees are not disadvantaged. Talk to us, and we'll help review your payroll and leave obligations.

The $450 threshold for super eligibility is removed from July 2022. This could impact payroll costs. If you rely on a pool of casual workers who earn less than $450 per month, talk to us. We can help you prepare for the increased cost.