General
ATO’s record-keeping tips
Posted by Todd Hodkinson on December 5, 2022
The ATO has reminded taxpayers that they should understand the record-keeping requirements for their business and keep accurate and complete records as they occur, as this should help them avoid […]
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General
ATO warning to SMSFs: “Paying the price for non-compliance”.
Posted by Todd Hodkinson on December 5, 2022
There are various courses of action available to the ATO when trustees of self-managed super funds (‘SMSFs’) have not complied with the super laws, including applying administrative penalties. A number […]
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General
Optus data breach
Posted by Todd Hodkinson on November 1, 2022
The ATO is aware of the recent Optus data breach and that people who have been affected might be concerned about their personal data, and is assuring people that ATO […]
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General
Check that holiday employees get the right super
Posted by Todd Hodkinson on November 1, 2022
The ATO is reminding employers that the holiday season is fast approaching, and that their holiday casuals may now be eligible for super. From 1 July 2022, employers need to […]
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General
ATO advice for SMSFs thinking about investing in crypto assets
Posted by Todd Hodkinson on November 1, 2022
The ATO recommends that trustees of self-managed super funds (‘SMSFs’) thinking about investing in crypto assets should seek professional advice from a licensed financial adviser. There are organisations who offer […]
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General
Why are credits and refunds being offset?
Posted by Todd Hodkinson on November 1, 2022
The ATO has reached out to small businesses who may have recently received a letter advising that they have a debt on hold and any credits or refunds would be […]
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General
Director ID deadline is approaching
Posted by Todd Hodkinson on November 1, 2022
The Government has launched an awareness campaign to help company directors get their director identification number (‘director ID’) as the 30 November deadline approaches. A director ID is a unique […]
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General
Input tax credits denied due to lodging BASs late
Posted by Todd Hodkinson on October 3, 2022
The AAT has held that a partnership’s entitlement to $16,361 of input tax credits claimed for the quarterly periods of 1 July 2012 to 31 March 2017 had ceased by […]
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General
Valuing fund assets for an SMSF’s annual return
Posted by Todd Hodkinson on October 3, 2022
The ATO has provided the following reminder and general advice for SMSF trustees regarding their obligations to value the assets annually. One of many responsibilities trustees have when managing an […]
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General
‘Talking tax’ with new workers
Posted by Todd Hodkinson on October 3, 2022
The ATO is reminding employers that have taken on new employees that those employees can complete a TFN declaration through ATO online services, and that this is an easy way for […]
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