ATO’s Tax Time Targets

ATO’s Tax Time Targets

With tax season almost upon us the Australian Taxation Office (ATO) has revealed its four areas of focus this tax season. They are:  Record-keeping Work-related expenses Rental property income and deductions, and Capital gains from crypto assets, property, and shares....
What to expect from the new Government

What to expect from the new Government

Anthony Albanese has been sworn in as Australia’s 31st Prime Minister and a Government formed.    Let’s take a look at what we know so far about the policies of the new Government in an environment with plenty of problems and no easy fixes.  The economy The Government...
ATO refocus on debt collection

ATO refocus on debt collection

The ATO has not pursued many business tax debts during the pandemic, and has allowed tax refunds to flow through even if the business had a tax debt. That position has now changed and the ATO has resumed debt collection and offsetting tax debts against refunds.   If...
QBCC Self-assessed Reporting Requirements

QBCC Self-assessed Reporting Requirements

Annual reporting for QBCC self-assessed licence categories 1 and 2 was due on 31 March.  All contractor-type licensees must submit to QBCC annual reporting, to demonstrate on-going compliance with the minimum financial requirements.   You are required to lodge your...
What changes on 1 July 2022?  SUPERANNUATION

What changes on 1 July 2022? SUPERANNUATION

Work-test repeal – enabling those under 75 to contribute to super  Currently, a work test applies to superannuation contributions made by people aged 67 or over. In general, the work test requires that you are gainfully employed for at least 40 hours over a 30 day...