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May 6, 2025

Instant asset write-off extended to 30 June 2025

Announced as part of the 2024-25 Budget, and now legislated, the $20,000 instant asset write-off limit has been extended for a further 12 months until 30 June 2025 to continue to provide support for ...

Apr 7, 2025

ATO changes GST reporting periods for some small businesses

As a small business owner, it's essential to stay on top of your tax obligations. Recently, the ATO has announced that it will be moving around 3,500 small businesses from quarterly to monthly GST

Mar 27, 2025

Federal Budget 2025 Business Measures

Budget breakdown: what you need to know On Tuesday, 25 March 2025, Treasurer Jim Chalmers delivered his 4th Federal Budget, outlining the Government's financial plans for 2025-26. For

Mar 14, 2025

Get ready for the end of the FBT year!

Fringe benefits tax (FBT) has its own calendar. The FBT year starts on 1 April every year, and closes 31 March the following year. So, the end of this FBT year is 31 March and fast

Feb 11, 2025 ATO launches its small business focus areas for 2025

Understanding the ATO's focus areas for 2025 is essential to ensuring your business remains compliant and successful. The ATO has outlined specific areas of concern to help you avoid common

Jan 7, 2025

Navigating business growth: ATO’s medium and emerging program for private groups

If your small or medium business is on a growth trajectory, you may soon hear from the ATO that you’re being included in its medium and emerging program for private groups. This program is

Dec 6, 2024 Managing your business’s tax debts

Facing a tax bill is a common challenge for many Australian businesses. Whether you're currently facing a tax debt or anticipating one in the near future, it’s important to remember that

Nov 4, 2024 ATO data-matching: “lifestyle” assets and your business

The ATO has announced or extended a number of data-matching programs recently, including the lifestyle asset data-matching program. Data will be acquired from insurance providers for 2023-24 to

Oct 9, 2024 Small Business Restructure Rollover: Tax Relief for Genuine Business Restructures

With the latest statistics showing a significant rise in liquidations and with the ATO’s focused efforts on debt collection, small businesses face significant financial pressures. However, the

Sep 12, 2024

Withholding for foreign residents: an ATO focus area

Does your business or investment structure make payments such as interest, dividends or royalties to any foreign residents? You may be required to withhold tax from these payments. The ATO has

Aug 13, 2024 Tax incentives for small businesses this tax time

As the new financial year begins, employers need to keep an eye on various payroll activities to make sure their employees’ pay and superannuation contributions are processed correctly and at the

Jul 7, 2024

Refinancing Your Debt With The ATO

The ATO has turned to more aggressive tactics to collect the outstanding debts. This includes reporting amounts outstanding to credit reporting agencies, which will sit on your credit file. This will

Jul 7, 2024 Tax Time Reminders For Small Businesses From The ATO

As tax time approaches, the ATO has released some pertinent reminders for small businesses in preparing themselves for the end of this financial year and the start of the new financial year. The

Jul 7, 2024 Get your employees’ super and payroll right for the new financial year

As the new financial year begins, employers need to keep an eye on various payroll activities to make sure their employees’ pay and superannuation contributions are processed correctly and at

Jun 4, 2024 Federal Budget 2024: Business Measures

On Tuesday 14 May 2024, Treasurer Jim Chalmers handed down the 2024-25 Federal Budget, his 3rd Budget. The major SME business tax-related measures announced in the Budget include the

May 6, 2024

Trust Reporting Changes From 1 July 2024

Changes to simplify reporting for trustees and beneficiaries are commencing from 1 July 2024 as a part of the Modernisation of Trust Administration Systems (MTAS) project. From that date, labels in

Apr 10, 2024 ATO’s Use Of Small Business Benchmarks

Recently, the ATO updated its small business benchmarks to encompass the 2021-22 income year. While the ATO promotes these benchmarks as an aid for small businesses to enable them to compare

Mar 18, 2024

FBT Electric Vehicle Home Charging Rate

Since the introduction of EV incentives by various state governments to encourage the uptake of EVs and other zero emissions vehicles, the market share of EVs has significantly increased from around

Feb 13, 2024 Employee vs Contractors: New Rules

Following on from two prominent High Court decisions in Construction, Forestry, Maritime, Mining and Energy Union v Personnel Contracting Pty Ltd [2022] HCA 1 and ZG Operations Australia Pty Ltd

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