ATO Small Business Newsroom – May / June
The ATO provides information on a large number of business related topics, issues, rules and regulations. We hope this article will help quickly you keep up to date.
Videos to help understand accounting topics.
Often watching a short video is a quicker way to understand what can otherwise be quite confusing. The following titles have just been added to our website and can be accessed at any time and by anyone.
Closely held payees: STP options for small employers
Small employers with closely held payees have been exempt from reporting through single touch payroll (STP).
End of year financial strategies
With the end of the financial year approaching there may be some valuable opportunities worth discussing for you or your family, depending on your personal circumstances.
10% Super Guarantee from 1st July 2021
Business leaders should turn their attention to how they plan on managing the government’s increase to the superannuation guarantee, set to come into effect from 1 July, to avoid penalties, says one tax expert.
New insolvency rules commence
The measures from 1st January 2021 apply to incorporated companies with liabilities less than $1 million.
ATO promises not to ‘destroy’ businesses as it resumes debt collection
Businesses struggling with tax debts have been urged to re-engage with the ATO as it pledges not to “destroy the very thing that [it has] been trying to support” throughout the pandemic.
Taxpayers urged to keep work-from-home records
Moore Australia has called for taxpayers to keep a diligent log of the hours worked from home this financial year as tax time looms.
Businesses feeling ‘adverse’ impacts of COVID-safe measures: ABS
While less than two out of 10 businesses are recording a dip in revenue, nearly two-thirds of them are still feeling the impact of COVID-safe controls, according to new data from the Australian Bureau of Statistics.
ATO signals crackdown on 4 ineligible work-from-home claims
As tax time looms, the ATO has pointed to four key ineligible work-from-home claims it will be watching closely as taxpayers look to make the most of flexible working arrangements.