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Will your business be audited?

Will your business be audited?

How the ATO identifies audit targets

The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls outside of those benchmark...

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GST on property developments

GST on property developments

The big changes for developers and purchasers

If a Bill currently before Parliament passes, from 1 July 2018, purchasers of new residential premises or new residential subdivisions will need to remit the GST on the purchase price directly to the ATO as part of the settlement pro...

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Power And Influence

Power And Influence

The other business influencer that can make or break you

Did a Kardashian really just wipe US $1.3bn off the share price of Snapchat?

A tweet from Kylie Jenner saying “sooo does anyone else not open Snapchat anymore? Or is it just me… ugh this is so sad” is being credited ...

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The ATO's FBT Hot Spots

The ATO's FBT Hot Spots

The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the key hot spots for employers and employees.

Motor Vehicles – using the company car outside of work

Just because your...

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SMSF Lodgements Extended for 2016/17 Income Year

The due date for lodgement of all self-managed superannuation fund annual returns for the 2016/17 income year has been extended to 2 July 2018.

The announcement by the Commissioner of Taxation is in regards to the commencement of the transfer balance cap regime which commenc...

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What's Changing in 2018

What's Changing in 2018

What’s changing in 2018?

1 January 2018
• Vacancy fees for foreign acquisitions of residential land - An annual vacancy fee imposed on foreign owners of residential real estate if the property is not occupied or genuinely available on the rental market for at least...

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Directors on 'hit list' for not paying employee super

Directors on 'hit list' for not paying employee super

Proposed legislation would see the ATO pursue criminal charges against Directors who fail to meet their superannuation guarantee (SG) obligations.

An analysis by Industry Super Australia submitted to the Economics References Committee into Wage Theft and Superannuation Guara...

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New Data Breach Laws Come Into Effect

New Data Breach Laws Come Into Effect

New data breach rules in effect from 22 February 2018 place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm.

In October last year, almost 50,000 employee records from Australian Go...

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ASIC Penalties - The Cost of Doing Business

ASIC penalties ‘the cost of doing business’
The Australian Securities and Investment Commission (ASIC) is set to increase penalties for corporate and financial sector misconduct to deter the fines being seen as the cost of doing business.

The impact of the proposed changes would be to ex...

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Cleaners and Couriers Latest Black Economy Target

Cleaners and Couriers Latest Black Economy Target

The detail of the Government’s crackdown on cleaning and courier companies was revealed late last month.
From 1 July 2018, the taxable payments reporting system will extend beyond the building industry to cleaning and courier businesses. This means that these businesses will need...

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