Posts

Getting employees on board for the holiday rush?

Hiring additional employees to help with surging end-of-year demand?

The New employment form, accessed through ATO online services, will help reduce your administration.

It’s an easy way for your employees to provide you and us with the information the ATO needs. If your new employee has a myGov account linked to the ATO, once signed in they […]

Tax-smart tips for crypto asset investments

You may need to include a capital gain or capital loss in your income tax return

If you exchange crypto assets (crypto) for goods, cash or other crypto assets then this is normally considered a disposal for the purposes of capital gains tax.

Make tax time easier by remembering these 3 tips: Disposal of crypto assets […]

Research & Development (R&D) Tax Incentive

Not sure if you can access the R&D incentive?

Your business could be eligible for a tax offset through the Research & Development (R&D) Tax Incentive.

To find out, join members from the ATO and AusIndustry in one of their free information sessions to learn how the program might benefit your business.

Free sessions

Register […]

Director penalty notices

Directors obligations and personal liabilities for PAYG withholding, SG Charge and GST

In March the ATO will be contacting relevant clients via letter to inform them about their potential personal liability for company tax debts under the Director Penalty Notice (DPN) program.

The letter will be sent to directors of companies if the company has […]

Directors must now apply for their Director ID prior to being appointed

Be aware of new regulations surrounding your Director ID

As of 5 April 2022, new directors must apply for their director ID before they’re appointed.

The Australian Business Registry Services (ABRS) is reaching out to directors who haven’t applied on time to encourage them to do […]

Fuel tax credit latest rates

From 1 July 2021 to 30 June 2022

The ATO’s fuel tax credit calculator includes the latest rates

You can use it to work out the fuel tax credit amount to report on your business activity statement (BAS).

The following tables contain the fuel tax credit rates for businesses from 1 July 2021 to 30 June […]

February 2022 cryptocurrency scam

Cryptocurrency tax evasion scam

Scammers pretending to be from the ATO are telling people they are suspected of being involved in cryptocurrency tax evasion

They are then asking them to ‘connect their wallet’ and provide detailed information via a link.

If you receive an SMS or email like this, don’t click on the link. It […]

Superannuation investment scam alert

November 2021 phone and email scams – superannuation

The ATO is concerned about an increase in scams involving fake superannuation investments.

Scammers are phoning and emailing people, pretending to be financial advisers or super experts. They are encouraging people to invest their super in a supposedly high performing self-managed super fund (SMSF).

These scammers will […]

Your SMSF investment strategy

Have you reviewed your SMSF investment strategy?

Self-managed super funds (SMSFs) are required to prepare and implement an investment strategy to help meet their investment and retirement goals.

The investment strategy is not designed to be a ‘set and forget’ document but rather a strategy you continuously review to ensure you are meeting your retirement […]

Stapled super fund details start November

Request stapled super fund details for employees

What you need to do from 1 November 2021

From 1 November 2021, if you have new employees start, you may have an extra step to take to comply with choice of fund rules if they don’t choose a super fund. You may now need to request their […]