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Focus on small business:
What the ATO is seeing in the small business market and more!
The R&D Tax Incentive is the federal government’s primary assistance programme for encouraging business R&D and approximately 14,000 Australian companies register annually. Registrations for R&D activity conducted during the YE 30 June 2018 must be lodged by 30 April 2019.read more
Single Touch Payroll is a reporting initiative to streamline business payroll reporting obligations. Employers will be required to send payroll information directly to the ATO from their payroll software each time they pay their employees. On 12 February 2019, legislation was passed to extend Single Touch Payroll (STP) to include small employers. From 1 July 2019, businesses with 19 or less employees will be required to comply with STP reporting obligations on every pay run. Before reporting commences, businesses will need to notify the ATO which STP provider they are reporting through and nominate an Authorised Contact.read more
Borrowing from your business?
Find out how you might be
triggering the Division 7A rules
The government has released draft legislation that will allow the ATO to disclose tax debt information to
registered credit reporting bureaus (CRBs).
CRBs may include tax debt information in their credit reports, which are available to parties who wish to use
this information to make an informed decision on the credit worthiness of a business.
From 1 July 2018, high income earners who have multiple employers and income in excess of $263,157 per
year will have the option to opt out of receiving superannuation guarantee from certain employers