Client Alert - May 2021

Independent resolution process for small businesses now permanent Small businesses now have another pathway to resolve tax disputes, with the ATO making its independent review service a permanent option for eligible small businesses (those…

NSW Payroll Tax Avoidance Penalties Set for 400% Increase

NSW Minister for Finance and Small Business Damien Tudehope on Wednesday announced a package of new tax laws which will see fines of $110,000 and imprisonment issued to businesses committing wage theft, and empower Revenue NSW to name and shame…

Treasury Reveals Director ID Deadline

The new dates come as the government looks to introduce the director ID regime to prevent illegal phoenixing by ensuring directors can be traced across companies, while also preventing the use of fictitious identities. The new regime will…

Client Alert - April 2021

It’s time to consider FBT If your business has provided any benefits to your employees, you may be liable for fringe benefits tax (FBT). This includes benefits to current, prospective and former employees,as well as their associates. It’s…

Explanatory Memorandum - April 2021

It’s time to consider FBT The ATO has issued a worksheet which summarises the FBT rates and thresholds for 2021–2022 (ie 1 April 2021 to 31 March 2022). Most of the rates have been previously announced, but the worksheet helpfully puts…

ATO on the Hunt for 60,000 TPAR Businesses

The ATO estimates that around 280,000 businesses are required to lodge a taxable payments annual report (TPAR) for the 2019–20 year, following the regime’s extension last year to businesses providing road freight services, information…

Client Alert - March 2021

Tax implications of having more than one job With insecure, contract and casual work becoming increasingly common, particularly in the current COVID-19 affected economy, it’s no surprise that many young and not-so-young Australians may have…

Explanatory Memorandum - March 2021

Tax implications of having more than one job With insecure, contract and casual work becoming increasingly common, particularly in the current COVID-19 affected economy, it’s no surprise that many young and not-so-young Australians may have…

Client Alert - February 2021

ATO warning: watch out for tax avoidance schemes Tax planning or tax avoidance – do you know the difference? Tax planning is a legitimate and legal way of arranging your financial affairs to keep your tax to a minimum, provided you make the…