ATO extends Division 7A COVID-19 relief
The Tax Office has extended relief for taxpayers who are unable to meet the minimum yearly repayments on Division 7A loans due to COVID-19.
ATO extends STP finalisation due date
Employers have been given additional time to complete their Single Touch Payroll finalisation declaration this year as the ATO recognises the ongoing impacts of COVID-19.
Home Office & end of 2021 tax year
In a Covid-ravaged financial year, small business owners need consider what actions now can benefit in saving income tax. Taxpayers with the best records often have the best deductions.
Post Federal budget reflections
The federal budget 2021–22 was handed down by the Treasurer, the Hon Josh Frydenberg MP, on 11 May 2021. This article considers the key issues as we wait for the legislative amendments to give effect to the budget measures.
ATO sheds light on crypto compliance focus
The Tax Office has urged advisers and taxpayers alike to heed its guidance on accounting for cryptocurrency come tax time, when it will be looking to ensure that all capital gains events are accurately reported — not just gains.
ATO Small Business Newsroom – May / June
The ATO provides information on a large number of business related topics, issues, rules and regulations. We hope this article will help quickly you keep up to date.
Videos to help understand accounting topics.
Often watching a short video is a quicker way to understand what can otherwise be quite confusing. The following titles have just been added to our website and can be accessed at any time and by anyone.
Closely held payees: STP options for small employers
Small employers with closely held payees have been exempt from reporting through single touch payroll (STP).