With the ATO’s compliance targeting of large businesses in the past few years reaping rewards, this tax time, its turning its attention to small businesses.
With the FBT lodgement deadline fast approaching, we give you some tips on areas of FBT which may need particular attention, such as motor vehicles, employee contributions, the living-away-from-home allowance, car parking and the employer rebate.
Cash might be king, but the use of cash by businesses is attracting attention from the ATO. It will begin visits of selected businesses to ensure that all tax obligations are met.
In 2017, the Government flagged and publicised plenty of changes to the tax and superannuation system, but how many of them have actually been passed by Parliament and made into law?
Payroll tax is a self-assessed, general purpose state and territory tax assessed on wages paid or payable by an employer to its employees, when the total wage bill of an employer (or group of employers) exceeds a threshold amount.
The end of the 2016/17 financial year is almost here, so now's the time to look at year end stock take, work in progress, bad debts and capital assets to minimise your tax.