State and Federal Covid support — Aug 2022
The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage continued national hardships.
ATO adds indebted sole traders to credit referrals
The step should help promote transparency and fairness, says IPA. The ATO has begun disclosing tax debts of sole traders to credit reporting bureaus (CRBs) if they meet its criteria for referral.
Tax Office homing in property deductions, SMSFs warned
With property deductions a big focus for the ATO this tax time, SMSFs have been warned on some of the pitfalls in this area that can land them in trouble.
Sub-trusts ‘redundant’ under final Div 7A ruling
With interest-only loans no longer an option the commercial incentive for sub-trusts ends, says the Tax Institute.
Tax time guide offers path through 100A
ATO update on trust distributions outlines key features of low and high-risk arrangements.
Write a business plan
A written business plan is essential to help you start and grow your business
Be wary of trust disclaimers, ATO warns
Beneficiaries are urged to understand the tax effect of entitlements in the wake of a recent High Court decision.
Largest inflation rates by country in Oceania
See how the inflation rates changed from 1960-2022
Single Touch Payroll: Phase 2 deferral reminder
First update was in January 2022, now phase 2.
Census 2021 Data
Search through the data collected by the Australian Bureau of Statistics, and find interesting facts about how the country is changing.