MAX YOUR REFUND

As we approach the end of the financial year, Australians begin to direct their attention to their tax returns and what they might be able to save in tax or boost their refunds. In a large number of cases, Australians are still having difficulty in getting it right. According to Scott Bailey of ITP, a…

THE CASH ECONOMY AND THE AUSTRALIAN TAX OFFICE

  It has recently been revealed that the ATO will again begin a program to review operators in Australia’s cash economy. The program is to begin in Perth and Canberra with tax officers visiting hundreds of restaurants, cafés, hair & beauty salons & other small businesses including building & construction businesses that have ready access…

The Rise Of The iTradie: Tradies Swap Cash For Apps!

  “Will you do it cheaper for cash?” is something Ben Stuth only gets asked on the odd occasion these days. Stuth has been an electrician for 14 years now and says times have changed since he started Bill & Ben The Electrical Men with his father. Father and son team Ben and Bill Stuth…

Early Trumps late when it comes to payments

There will be a government inquiry into late payment of small businesses.   One of the criticisms levelled at president-elect Donald Trump during the highly contentious U.S. election campaign was that the businessman reportedly stiffed subcontractors who’d been hired to undertake work for his various business ventures. Numerous small businesses from carpenters to plumbers and…

ATO to Report Tax Debts to Credit Reporting Agencies

  The federal government has been, for some time, concerned about the escalating debt from taxpayers who would like to use the ATO as a bank. Businesses are either delaying or not paying their obligations such as GST, PAYG or income tax. The government announced in it’s Mid Year Economic & Fiscal Outlook report last…
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