Green letter from the ATO
A green letter from the ATO is generally an information notification but don’t ignore the content as there may be things to improve your business.
Rural Succession Planning
Farming families offer a different perspective on succession, with careful planning keeping the farm can be the reality across generations.
Reasons To Consider Changing Your Accountant
If you find yourself in a situation where you feel like your accountant is doing the bare minimum, it might be time to find a new accountant. You might not realise it but there is a possibly that you might not be getting good value for money and it might be a good idea to […]
The ATO Says It Can’t Rely on Crypto Users Own Records
The Australian Tax Office (ATO) has said that it is unable to rely on cryptocurrency investors to keep track of their crypto related transactions and profits, despite most investors trying their best to provide the ATO with the correct information. “Our main concern is that many taxpayers believe their cryptocurrency gains are tax-free or only […]
SMEs Encouraged To Seek Help If They Are Struggling To Pay Their Taxes
Small to medium enterprises (SMEs) across Australia are being encouraged to seek immediate help if they are struggling to pay their taxes due to the covid-19 pandemic-induced cash-flow issues. It has been reported that small to medium businesses currently owe the Australia Tax Office (ATO) a record-high $21.4 billion in tax debt in the financial […]
4.6 Billion of JobKeeper Payments Went To Businesses That Increased Their Turnover
It has been revealed that billions of dollars’ worth of JobKeeper payments were distributed to businesses that increased their turnover at the peak of the covid-19 pandemic in 2020. The Australian Government originally announced the $1,500 per fortnight wage subsidy in March 2020 when the economy shut down to combat the spread of the virus. […]
Claiming Tax Deductions Without A Receipt
Tax deductions are the main way you can improve your tax refund. In simple terms, deductions add fairness to the tax system; if you have to spend extra money that connected with how you earn a living, then you get something back for that. The ATO prefers that you keep a receipt for every expense […]
Important Information About Tax Cuts And Super Changes Introduced on 1st July 2021
Tax relief for workers and businesses, higher superannuation payments and housing assistance for first home buyers are just some of the changes set to occur at the start of the new financial year on Thursday 1st July, as a number of measures from the 2021 federal budget come into effect. Arguably the most significant change […]
Reasons Why 1st July Is Too Early to File Your Tax Return
Millions of Australians are feeling enthusiastic about receiving their annual tax refund, but filling your tax return on 1st July has the potential to land you in some serious trouble with the tax office. The lure of a $1080 tax cut, available to millions of Aussies this financial year, might entice you to do your […]
The Popularity of Cryptocurrency In Australia Continues To Rise
A recently published survey revealed that risk is the biggest reason why Australians still lack confidence in cryptocurrency. 43 percent of Australians who responded to the survey said that the volatility of cryptocurrency was their biggest deterrent to buying it. This is a 14 percent increase on the same answer from a survey published in […]