by Val Tse | Jun 4, 2019 | ATO, Business
Single Touch Payroll (STP) is a Federal Government regulation that changes when and how businesses report payroll activity to the Australian Taxation Office (ATO). It requires businesses to report payments such as salaries and wages, pay-as-you-go (PAYG) withholding...
by Val Tse | May 1, 2019 | ATO, ATO - Living Expenses Tool
It’s known by a variety of names, such as the black economy, or even the cash or hidden economy. But whatever the label, its existence is a pebble in the ATO’s shoe that it is forever looking to prise out. As part of that ongoing effort, it has settled upon certain...
by Val Tse | May 1, 2019 | SMSF, SMSF- Super Downsizer Scheme
Under the superannuation downsizer scheme, people aged 65 and older can make a non-concessional (post-tax) contribution of up to $300,000 from the proceeds of selling what was once their family home. Downsizing enables more effective use of housing stock, and existing...
by Val Tse | May 1, 2019 | Business, Director Penalty Notice
Being a director of a company, as with any elevation of status, is a role that also brings with it added responsibilities and duties. Company directors need to keep in mind that the Corporations Act holds directors personally liable for many of the legal and financial...
by Val Tse | May 1, 2019 | ATO Public Ruling, Income Tax
The ATO can issue public rulings that provide guidance on the interpretation of various tax laws. Public rulings generally deal with priority issues that have been found to require clarification, so if you have a concern about a particular area of tax law, you may...
