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…

Coronavirus grants now tax-free

Legislation aimed at ensuring coronavirus small business grants are not subject to income tax has now passed both houses of Parliament. Treasury Laws Amendment (2020 Measures No. 5) Bill 2020 passed Parliament late on Thursday. The bill…

Getting your clients ready for the next phase of recovery

It’s been a year no one really expected: a pandemic shut the economy and the Australian government opened a tap of stimulus worth A$259 billion so far. That government support has helped many small businesses hit hard by restrictions imposed…

NSW State Budget

The 2020-21 New South Wales Budget focuses on stimulus and job creation to overcome the impacts of COVID-19. Here are the highlights as they affect businesses. The New South Wales (NSW) Government handed down its 2020-21 Budget on 17 November…

Federal Budget - October 2020

PERSONAL TAXATION Personal tax cuts brought forward to 1 July 2020 In the Budget, the Government announced that it will bring forward to 1 July 2020 the personal tax cuts (Stage 2) that were previously legislated in 2018 to commence from…
,

Death And Taxes: ATO Improvements Coming Soon?

In a bid to improve the experience of taxpayers when dealing with the ATO in relation to deceased estates, the Inspector General of Taxation and Taxation Ombudsman (IGTO) has recently completed a report which identified opportunities to improve…

Super guarantee amnesty ends 7 September 2020

This is your last chance to apply for the super guarantee amnesty to catch up on past unpaid super, without incurring a penalty or paying administration fees. To be eligible for the amnesty: the unpaid super must be for a quarter between…