Admin
30th November, 2018Ahead of the holiday season, the ATO has reminded employers about the potential FBT implications of providing Christmas parties and gifts. Parties held on business premises on a normal work day is treated differently to an event outside of work. There are also different rules depending on whether gifts are given to employees and clients or suppliers.
Click to read our article: FBT on work Christmas parties and gifts (2MB PDF)
Admin
27th November, 2018The ATO has reported that some businesses are making simple mistakes reporting their GST. The ATO reminded taxpayers to avoid common GST reporting errors and how to correct them if a taxpayer finds a mistake made on a previous activity statement.
Click to read our article: ATO flags common GST reporting errors and how to correct them (0.2MB PDF)
Admin
21st November, 2018Being a director of a company comes with many responsibilities, this could soon increase with a government proposal to introduce a “director identification number” (DIN), a unique identifier for each person who consents to being a director. The DIN will permanently be associated with a particular individual even if the directorship with a particular company ceases.
Click to read our article: Director identification numbers coming soon (0.3MB PDF)
Admin
14th November, 2018The sharing economy has become a big disrupter in the Australian market. It seems like everyone is getting in on the action of making a little extra money on the side whether it be renting out a spare room, driving for a ride sharing service, or even sharing their cars.
Click to read our article: ATO continues its blitz on the sharing economy (1.4MB PDF)
Admin
8th November, 2018As a way to combat the rise in black economy, the government is planning to extend the Taxable Payments Reporting System (TPRS) to entities that provide road freight, IT, security, investigation, or surveillance services.
Click to read our article: Reportable Payments System to be Extended (280KB PDF)