Explanatory Memorandum - October 2019
Small business income tax gap: ATO update
New figures released by the ATO estimate that almost 90% of income tax from small businesses is paid voluntarily or with little intervention from the ATO.
“This shows that the vast majority of…
Client Alert - October 2019
Small business income tax gap: ATO update
New figures released by the ATO estimate that almost 90% of income tax from small businesses is paid voluntarily or with little intervention from the ATO.
“This shows that the vast majority of…
SG amnesty resurfaces in Parliament
The proposed SG amnesty is now back on the table after more than a year of uncertainty around the proposed policy.
On Wednesday, the government introduced Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 into Parliament,…
Non-compliant payments to workers: is your tax deduction at risk?
Recent changes to tax law give employers greater reason than ever to be extremely careful in complying with their tax withholding obligations.
The changes were made by the Treasury Laws Amendment (Black Economy Taskforce Measures No.…
Super "Opt Out" Choice For High Earners
Are you a medical professional or company director hired by multiple organisations who make compulsory super guarantee (SG) contributions on your behalf? Or perhaps you're simply a high-income professional with an extra employment arrangement…
Explanatory Memorandum - September 2019
Warning to watch out for myGov and ATO tax scams
The government’s Stay Smart Online website (www.staysmartonline.gov.au) warns taxpayers that there is a surge in scammers impersonating trusted bodies like myGov and the ATO to trick people…
Client Alert - September 2019
Warning to watch out for myGov and ATO tax scams
The government’s Stay Smart Online website warns there has been a surge in scammers impersonating myGov and the ATO to trick people into giving them money or personal details. These scams can…
ATO provides voluntary disclosure update
The ATO has encouraged SMSFs and their auditors to voluntarily disclose contraventions of superannuation law to avoid administrative penalties, stating that over 900 funds have used its voluntary disclosure service in the past three years.
In…
Capital Gains Tax And Death: It's Not The End Of The World
There is enough pain and anguish when someone dies, so fortunately there is, in most cases at least, no duty on assets that form part of the deceased's estate and are passed to a beneficiary, or their legal personal representative (LPR). But…
Explanatory Memorandum - August 2019
ATO will inform certain tax agent clients their information is "Tax ready"
If tax agent clients' employers report through Single Touch Payroll (STP) and the clients are linked to ATO online services through myGov, the ATO will send them a myGov…