Australian Taxation Office warns against asset wash sales

With COVID-19 lockdowns and restrictions in the rear-view mirrors of most of the country, the ATO is also beginning to resume ordinary compliance activity levels.

ATO’s interest charges hit highest level in seven years

The ATO has raised both its general interest charge (GIC) rate and shortfall interest charge (SIC) rate for the next quarter, increasing both by more than 1 per cent. 

The Countries that Consume the Most Beer in the World

Check out the countries that consume the most beer from 1963-2021

How to avoid personal liability when dealing with DPNs

There are better ways to handle a director penalty notice than leaving the letter unopened.

SMSF scam investigation sees call centre raided

A boiler room operation in the Philippines has been raided following investigations into a sophisticated scam targeting SMSF money.

What business needs to know about the skills and technology boosts

Proposed measures for a bonus 20 per cent tax deduction to incentivise spending on training and digital uptake are back on track.

Declare cash sales or run the risk, business told

Off-the-books transactions and side hustles have a habit of showing up the ATO’s tracing technology, says Assistant Commissioner.

Australian Taxation Office (ATO) reminder to small businesses this tax time

Small businesses are again in the ATO’s sights this tax time, with a focus on stamping out deductions not related to business income, overclaiming of expenses, omission of business income and insufficient records to substantiate claims.

What is Single Touch Payroll Phase 2?

In the 2019–20 Budget, the government announced that Single Touch Payroll (STP) would be expanded to include additional information.

Bear Markets and What Investors Can Do Now

Six biggest bull markets in US stocks/shares since 1962 and their subsequent bear markets.

Claiming a tax deduction for expenses for a home-based business

If you operate some or all of your business from your home, you may be able to claim tax deductions.

Super changes apply, don’t get caught short

To avoid additional costs (including the superannuation guarantee charge (SGC)), you must pay the right amount of super for all your eligible employees by the quarterly due date.