Blog

Small business CGT concessions: when do I qualify?

Have you considered the powerful tax and superannuation planning opportunities that the small business CGT concessions can offer your business? They allow you to reduce – or sometimes, completely eliminate – the capital gain from the sale of a business asset, whether it’s held directly by your business entity or in another related structure. The concessions...
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ATO sets its sights on undisclosed foreign income

Do you have any amounts of offshore income you haven’t declared to the ATO – perhaps interest from a foreign bank account? International data-sharing arrangements are making your overseas financial affairs increasingly transparent, so don’t get caught out. Failing to report foreign income can attract penalties and ATO scrutiny of your broader tax affairs. If you’re...
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Unpaid super: important amnesty update for employers

The government is getting tough on employers’ unpaid compulsory super guarantee (SG) contributions that may be affecting more than 2.8 million workers. Fortunately for businesses, it has recently announced a revised “grace period” to rectify past non-compliance. All businesses should review their super compliance to consider what action they may need to take. Compliance changes for...
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GST on imports: are you optimising your cashflow?

Looking for opportunities to improve cashflow? If you import goods as part of your business, you don’t have to pay goods and services tax (GST) upfront if you’re registered for the ATO’s deferred GST scheme. Instead, you can defer and offset GST amounts in your next business activity statement (BAS). However, there are some eligibility...
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