Tax Tips For Business Owners

Extending Administrative Relief For Companies To Use Technology

By Warren Kruger / September 17, 2021 / 0 Comments

  | | | The Government has passed legislation renewing the temporary relief that allows companies to use technology to meet regulatory requirements under the Corporations Act 2001. These temporary relief measures will allow companies to hold virtual meetings and use electronic communications to send meeting-materials and execute documents until 31 March 2022.  This should […]

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Expansion Of Support For SMEs To Access Funding

By Warren Kruger / September 10, 2021 / 0 Comments

  | | | The Government is providing additional support to small and medium sized businesses (‘SMEs’) by expanding eligibility for the SME Recovery Loan Scheme. Specifically, in recognition of the continued economic impacts of COVID‑19, the Government will remove requirements for SMEs to have received JobKeeper during the March quarter of 2021, or to […]

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Changes To STP Reporting from 1 July 2021

By Warren Kruger / August 27, 2021 / 0 Comments

  | | | Employers should have already been reporting through Single Touch Payroll (‘STP’) unless they only have closely held payees, or they are covered by a deferral or exemption. From 1 July 2021, there have been changes to STP reporting for small employers with closely held payees and quarterly reporting for micro employers. […]

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Taxable Payments Annual Reports (‘TPARs’) Due 28 August

By Warren Kruger / August 10, 2021 / 0 Comments

  | | | 2021 TPARs are due to be lodged for businesses who have paid contractors to provide the following services: building and construction; cleaning; courier, delivery or road freight; information technology (‘IT’); or security, surveillance or investigation. With specific reference to the TPAR due on 28 August 2021, the ATO has reminded taxpayers […]

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New FBT Retraining and Reskilling Exemption Available

By Warren Kruger / August 3, 2021 / 0 Comments

  | | | Recent legislative amendments mean that employers who provide training or education to redundant (or soon to be redundant employees) may now be exempt from fringe benefits tax (‘FBT’). The ATO has reminded eligible employers that they can apply the exemption to retraining and reskilling benefits provided on or after 2 October […]

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New ATO Data-Matching Programs

By Warren Kruger / July 27, 2021 / 0 Comments

  | | | The ATO has advised that it will engage in two new data matching programs, as outlined below: the ATO will acquire novated lease data from McMillan Shakespeare Group, Smartgroup Corporation, SG Fleet Group, Eclipx Group, LeasePlan, Toyota Fleet Management, LeasePLUS and Orix Australia for the 2018/19 through to 2022/23 financial years […]

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