Category: ATO Compliance

The Australian Taxation Office recently updated its guidance on tax and cryptocurrency.

Directors are now required to register for a unique identification number that they will keep for life.

Bookkeeping has gone from hand-written ledgers to high-tech automation – but it’s just as important for a small business as ever. Want to get your head around keeping good financial records? Start here.

Did your business make an income tax loss in 2020? You may be eligible for the loss carry back tax offset in this financial year. Get in touch to see if your business qualifies and how to best use this refundable offset to generate cash flow.

When your business hires a new employee, the Choice of Fund form is used to identify where they want their superannuation to be directed. If the employee does not identify a fund, generally the employer directs their superannuation into a default fund.

Superannuation is not like other assets as it is held in trust by the trustee of the superannuation fund. When you die, it does not automatically form part of your estate but instead, is paid to your eligible beneficiaries by the fund trustee according to the rules of fund, superannuation law, and the death nomination you made.