Business Tax

ATO Concerns On Luxury Car Tax The ATO has issued an alert warning taxpayers that it is investigating certain arrangements where entities on-sell luxury cars without remitting the requisite luxury car tax amount. This applies to those selling luxury cars in the ordinary course of business in any structure (ie company or sole trader), as […]

Timely Opportunities

COVID-19 Vaccination Rewards: Tax Implications Amidst the current Omicron wave, and the government shortening booster dose intervals, many businesses are encouraging their employees to get either vaccinated or the booster dose by offering rewards or incentives. While this is an effective way to help the employees stay safe and businesses to stay open, there may […]

More support for NSW businesses as Premier declares ‘national emergency’

Projections from earlier in the week by the Population Interventions Unit at the University of Melbourne estimated that Sydney’s stay-at-home orders would need to be extended into September to get the latest outbreak under control, meaning businesses could be facing prolonged closure. On Friday, facing yet another day of rising case numbers, NSW Premier Gladys […]

Parliament Passes Bill on Tax-Free COVID-19 Support Payments

The Treasury Laws Amendment (COVID-19 Economic Response No. 2) Bill 2021 finally passed both houses without amendment on Monday after the Senate agreed not to insist on a transparency measure which would have forced businesses to disclose how much they received in JobKeeper wage subsidies. Under the new law, COVID-19 Disaster Payments dating back to its introduction on […]