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While some directors may not have complete visibility of the company’s tax compliance obligations, the reporting and payment obligations of a business are considered the responsibility of company directors.
Every business owner needs to become fluent in financial literacy. If not enough attention is dedicated to this area, it can lead to an avoidable business downturn.
Yesterday, RevenueWA issued Revenue Ruling DA26.0 (“Ruling”) which sets out its interpretation of major amendments which commenced on 13 June 2019, some 21 months ago.
New South Wales has just undergone a public consultation regarding a swap from stamp duty to land tax over a decades long transition period.
The Morrison Government has announced a new $30m support fund as part of the $1.3b Modern Manufacturing Initiative, aimed at supporting the manufacturing sector to commercialise projects faster.
National Head of Retail & Consumer Products, Luke Ritchie, says retailers with deep connection to their customer communities are best placed to emerge stronger from the challenges wrought by the pandemic.
There is more good news for everyone looking to grow their superannuation balance. In addition to the general transfer balance cap increasing from $1.6 million to $1.7 million, the concessional and non-concessional contribution caps are also set to increase from 1 July 2021.
The ATO recently issued a set of three publications outlining the tax deductibility and fringe benefits tax (FBT) consequences of transport, accommodation and travel-related food and drink expenditure.
The ATO issued a media release on 1 March 2021 stating more than 60,000 businesses have yet to comply with lodgement requirements under the Taxable Payments reporting system (TPRS) for the 2019/2020 tax year.
The ATO has published the long awaited draft revision of the Practical Compliance Guideline PCG 2021/D2 for the allocation of profits by professional firms.
In Grant Thornton’s (and the Australian Taxation Office’s) experience, financial supply providers and their associates are generally unaware of the GST implications of supplies and acquisitions between related parties.
Good news for everyone looking to grow their superannuation balance. The ATO has announced that from 1 July 2021 the transfer balance cap (TBC) will be indexed from $1.6m to $1.7m.