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Deduction boosts for small business: skills and training, digital adoption The Government announced two support measures for small businesses …

One-off $250 cost of living payment The Government will make a $250 one-off cost of living payment in April 2022 to six million eligible …

Personal tax rates unchanged for 2022–2023 In the Budget, the Government did not announce any personal tax rates changes. The Stage 3 tax changes …

The Fringe Benefits Tax (FBT) year ends on 31st March, after which time the ATO reviews whether employers who should be paying FBT are actually paying …

There are many compliance obligations for trustees of self managed superannuation funds (SMSFs). One of the simplest but most important is ensuring …

The ongoing COVID-19 pandemic has caused uncertainty in many parts of the economic and has led to what many experts term a “two-speed economy”: while …

Businesses that need a little more financial help will have one last opportunity to claim the loss carry-back in their 2021–2022 income tax returns. …

The ATO has recently finalised its stance on the issue of commercial debt forgiveness – in particular, the “natural love and affection” exclusion. A …

After the recent furore over the non-existent supply of rapid antigen tests (RATs) and the reduced availability of polymerase chain reaction (PCR) …

Retirees who own their own home and need more money in retirement can now access the Home Equity Access Scheme, run through Services Australia. The …

As a part of an economic package to help businesses recover from the impacts of the COVID-19 pandemic, the Federal Government provided low-cost credit …

The Federal Government has announced additional funding to extend the availability of free mental health support to small business owners dealing with …

Amidst the Omicron COVID-19 wave and with our governments shortening booster dose intervals, many businesses are encouraging …

The expansion of STP is intended to reduce reporting burdens for employers who need to report information about their employees to multiple government …

From the 1st of November, Australian Company Directors are required by law to verify their identity with the Australian Business Registry Service and …

This year marks the beginning of annual performance tests on MySuper products, run by the Australian Prudential Regulation Authority (APRA). The tests …

Employers get ready – there’ll soon be an extra step involved when it comes to hiring new employees. From 1 November 2021, employers will need to …

If the current prolonged lockdowns and economic conditions have prompted you to sell or close your business, it’s important to be aware of the need to …

Australian Capital Territory Expanded and additional support will be available for businesses affected by COVID-19 lockdowns, in the form of two grant …

Additional financial support for child care providers The Prime Minister and the Minister for Education and Youth recently announced new support …

The government’s long-slated “flexibility in superannuation” legislation is finally law. This means from 1 July 2021, individuals aged 65 and 66 can …

The government is seeking to legislate compulsory reporting of information for sharing economy platforms in order to more easily monitor the …

Under the COVID-19 early release measures nearly 4.8 million requests were made – resulting in $39.2 billion being released from Australian’s …

This tax time, the ATO is again closely monitoring claims in relation to rental properties. The ATO has data-matching programs in place that collect …

Allowing small businesses to pause disputed ATO debt recovery The Government will introduce legislation to allow small businesses to pause or modify …

Temporary full expensing: extended to 30 June 2023 The Government will extend the temporary full expensing measure until 30 June 2023. It was …

Superannuation contributions work test to be repealed from 1 July 2022 The superannuation contributions work test exemption will be repealed for …

Personal tax rates unchanged for 2021–2022 In the Budget, the Government did not announce any personal tax rates changes, having already brought …

Having insurance through superannuation can be a tax-effective and cost-effective way of protecting yourself and your loved ones. Most funds offer …

The ATO is reminding owners of businesses that provide various services to lodge their taxable payments annual report (TPAR) for the 2019–2020 income …