The new government is finally getting down to business, and the sad circus of parliament has resumed, meaning that tax rules are bound to change. Here are some of the changes that are expected. None of the changes are law, at time of writing, by the way. Low income super contribution to be scrapped. The … Read more
The Australian Tax Office has warned it is about to get tough with SMSF trustees for failing to comply with the strict compliance rules. If your SMSF or DIY super fund has fallen behind, don’t panic. The most serious penalties are reserved for cases of fraud. But you need to take action now and show … Read more
If the ATO issues a document, such as a business activity statement (BAS) then they expect it to be lodged on time, and any payment made in full. You cannot just ignore BAS statements because your business: has ceased to operate no longer has turnover over the GST threshold, currently $75,000 It is up to … Read more
You know how most small business owners hate paperwork and tax? Well, what we do is help them reduce both. In fact, we recently met a small business owner who used to have to allocate a whole day each quarter to doing his BAS. We showed him how to do it in 5 minutes AND … Read more
By Jarrod Rogers CPA It’s a complicated question, actually. But seeing as I was the one who asked, it, I may as well try to answer it. As with all public information on this website, the following article is for information only. If you want advice specific to your circumstances you need to be a … Read more
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