The EOFY and tax time for small business can be challenging at the best of times, let alone during a pandemic. Here are 5 ways to make sure your business is ready for EOFY.
Australian Taxation Office
Tax tips to help keep your business afloat during COVID-19
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...
ATO targets ‘lifestyle’ assets
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...
Bushfire relief from ATO obligations
The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes. For bushfire relief...
Can the ATO take money out of your account?
Your right to know! You might have seen the recent spate of media freedom advertisements as part of the Your Right to Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money from your account without you knowing. The...