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The pressure COVID-19 has put on small and medium businesses is staggering. In less than a month following Australia’s new trading and social distancing laws, two-thirds of the country’s SMBs have already reported a slump in revenue, with one in ten businesses...
The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts. The ATO targets 'lifestyle' assets, so keep reading if you or someone you know may be on their radar! The review, expected to...
There are a lot of changes in the wind that small businesses need to know about in 2020 to stay on the right side of the tax man. Small changes around taxation, reporting and invoicing can have a big impact on the way you run your business, so it’s crucial you get the...
The ATO’s recently released interpretation of the tax treatment of capital gains distributed by an Australian discretionary trust to non-resident beneficiaries will have a significant negative impact for some. Read on for the ATO's tax alert: distributions to...