General Archives - Page 11 of 17

Peter Holt Assistant Commissioner for ATO

COVID-19 | Trading Conditions could Lead to more TPAR Businesses: ATO

August 6, 2020

business, Businesses, Cafe, Contractors, COVID-19, COVID19, Grocery Store, Payment, Restaurant, retail, Subcontractor, Tax, TPAR

Businesses such as restaurants and cafés that moved to a delivery service model in response to COVID-19 restrictions have been urged to confirm if they fall into the taxable payments reporting system this year. ATO assistant commissioner Peter Holt said ongoing coronavirus restrictions have seen businesses pivot and contract out more services, potentially capturing these…

ATO call centre contacting hundreds for eligibility to early access of super

COVID-19 | ‘Hundreds’ to be Contacted in ATO Early Super Compliance Blitz

August 4, 2020

Emma Zajac

ATO, COVID-19, COVID19, Early Access to Super, Super, Superannuation

Hundreds of Australians who applied for the COVID-19 early release of superannuation are set to be queried on their eligibility as the ATO kicks off a pilot compliance program. The ATO will now contact “hundreds” of people who appear to have been ineligible for the early release of super but have gone ahead to raid their…

What You Need to Know Before the JobKeeper Announcement!

July 21, 2020

Emma Zajac

ATO, COVID-19, COVID19, Jobkeeper, Jobseeker, JobTrainer, Stimulus Package

Before the JobKeeper and Stimulus review is announced, we thought it might be a good idea to recap on the latest information and headlines! $2.5 BILLION JOB TRAINER PACKAGE: WHAT YOU NEED TO KNOW The Government has announced the $2.5bn JobTrainer package to retrain, upskill and open new job opportunities. JobTrainer for job seekers and…

Early Tax Time Lodgers Cautioned on COVID-19 Variables

July 2, 2020

Emma Zajac

ATO, COVID-19, COVID19, Tax, Tax Return, Tax Time, taxpayers

Taxpayers chomping at the bit to lodge their tax returns have been urged to hold off for at least a few weeks as COVID-19 throws up new variables this tax time. Individual taxpayers are expected to rush in to lodge their returns early this year as they look to secure refunds, as well as the…

Happy New Financial Year 2020/2021

July 1, 2020

Emma Zajac

2020, 2021, New Financial Year, Tax Time

To all our valued clients, Happy New Financial Year! Naturally as I’m sure you’re all aware the past few months have been incredibly challenging for the community in general. COVID19 has created and continues to create enormous health & economic disruption for individuals and families alike. We recognise that many of our clients…

Tax Time 2020 | ATO Homes in on Rental Deduction Claims

June 29, 2020

Emma Zajac

2020, ATO, Bushfires, Claim, Coronavirus, COVID-19, COVID19, Investment Property, Natural Disaster, property, Rent, Rental Claim, Rental Deduction, Tax, Tax Time

Rental deduction hotspots for this tax time have now been identified by the ATO as it anticipates a change in claims because of COVID-19 and recent natural disasters. Rental deduction claims continue to be a focus point for the ATO leading into tax time 2020, with the agency doubling its in-depth audits last year on the back…

COVID-19 | ATO Reins in Early Access to Super Tax Schemes

June 22, 2020

Emma Zajac

COVID-19, COVID19, Early Release Super, Super, Superannuation

Australians looking to take advantage of a tax benefit loophole in the COVID-19 early access to super scheme have now been put on notice as the ATO releases guidance on when it will apply the general anti-avoidance rule. The Tax Office has now drawn a line in the sand for tax schemes involving the COVID-19 early…

Save Tax – Avoid tax penalties by making your Trust Distribution Resolutions before 30 June 2020

2020 Tax Planning | Avoid Extra Tax, Trust Distributions Before 30 June!

June 3, 2020

Emma Zajac

2020, Save Tax, Tax, Tax Planning, Tax Time, Trust, Trust Distribution, Trustee

Do you have a Discretionary Trust (also known as a Family Trust)? If yes, you MUST keep reading! In the lead-up to 30 June 2020, we want you to be aware that you need to complete your trust distribution resolutions before 30 June. Why? To avoid paying extra tax of up to 47% of Trust…

2020 Tax Planning | Save Tax – ‘Cap’ Tax Using a ‘Bucket Company’

May 27, 2020

Emma Zajac

2020, Bucket Company, Save Tax, Tax, Tax Planning

In the lead up to 30 June 2020, we want you to know why using a ‘bucket company’ can be a great strategy for saving tax on trust profits distributed. Profits from a Trust? Do you have a Trust that generates profits? If yes, then read on! A “bucket company” allows you to “cap”…

ATO Cash Flow Boost Measure for Small to Medium sized Businesses

Tax Office Quizzed on Cash-Flow Boost Backlog

May 21, 2020

Emma Zajac

ATO, boost, business, cashflow, Payment, Tax

The ATO has denied any systemic issues around the processing of the cash-flow boost measure, noting that it only continues to interrogate claims in a “very small number of cases”. It is now understood that a recalibration of the ATO’s dataset over the past weekend should ensure the cash-flow boost payments are processed more smoothly,…

COVID-19 | Trading Conditions could Lead to more TPAR Businesses: ATO

COVID-19 | ‘Hundreds’ to be Contacted in ATO Early Super Compliance Blitz

What You Need to Know Before the JobKeeper Announcement!

Early Tax Time Lodgers Cautioned on COVID-19 Variables

Happy New Financial Year 2020/2021

Tax Time 2020 | ATO Homes in on Rental Deduction Claims

COVID-19 | ATO Reins in Early Access to Super Tax Schemes

2020 Tax Planning | Avoid Extra Tax, Trust Distributions Before 30 June!

2020 Tax Planning | Save Tax – ‘Cap’ Tax Using a ‘Bucket Company’

Tax Office Quizzed on Cash-Flow Boost Backlog

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