News

GST on low value imported goods

Did you know there are proposed amendments currently before parliament that may affect overseas businesses with an Australian GST turnover of A$75,000 or more? From …

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Easier GST reporting for food businesses

Many small food retailers buy and sell products that are both taxable and GST-free. Depending on the point-of-sale equipment they use, identifying and recording these sales can be difficult. To easily work out the amount …

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Cafes, restaurants, hair and beauty salons on the ATO’s radar as it steps up cash economy fight

An estimated 400 restaurants, cafes and hair and beauty salons will get a visit from the Tax Office this month, as part of the agency’s continued focus on the illegal cash economy. The ATO has …

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SMSF Association and ATO announce strategic partnership

The SMSF Association and Australian Tax Office (ATO) have announced a three-year strategic partnership, effective 15 February 2017. In a statement of intent released today, the Association and ATO outlined their intentions to work together …

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Incorrect R&D claims in the ATO’s sights

The Australian Taxation Office (ATO) and Department of Industry, Innovation and Science (DIIS) are continuing their joint efforts to curb the incorrect use of the Research & Development (R&D) Tax Incentive program with the release …

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INSTANT ASSET WRITE-OFF

With a sunset date of 30 June 2017, small businesses may wish to start considering bringing forward any planned asset investments to the next few months – particularly in this current low interest-rate environment. Up …

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What penalty cut rates mean for you?

HOSPITALITY and retail workers are in mourning, small business owners are cheering, and a whole lot of us have been left pretty confused after the Fair Work Commission decided to slash Sunday penalty rates. The …

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Provide ride-sourcing services

The Federal Court has agreed that ride-sourcing is taxi travel. If you have a ride-sourcing enterprise, we want to help you get your tax right. You need to: keep records have an Australian business number …

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Help your clients correctly claim the R&D Tax Incentive

If you have clients who claim the R&D Tax Incentive, you should look into the R&D Tax Incentive e-learning course developed specifically for accountants & tax agents.   What is the R&D Tax Incentive e-learning …

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Give your business some love

Our top 5 tips to give your business a little love 1. Have a long term love affair with your business plan and goals Remember that business plan you wrote so long ago? Well it’s …

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Country of origin made easier

If you sell products in Australia, the new country of origin labelling requirements launched on 8 February 2017 will now make it easier for you to determine the best country of origin claim for your …

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