ATO target high-risk small businesses

Businesses that trade mostly on a cash basis are currently being targeted by the ATO in efforts to uncover undeclared revenue.   Common business types they are cracking down on are cafes, bars, restaurants and hair & beauty salons as these types of businesses predominantly deal with cash. If the ATO were to audit your [...]

2017-06-26T15:47:23+00:00May 8th, 2017|Business Advice, Contracts, Employment Law|15 Comments

ATO Debt will soon show on Credit Reports

In an effort to get paid faster, the Australian Taxation Office, from 1 July 2017, will start reporting overdue small business tax debts to Credit Rating Bureaus.   Initially the measure will only apply to businesses with Australian Business Numbers and tax debts over $10,000 that are at least 90 days overdue. It will not [...]

2017-06-26T16:38:34+00:00April 10th, 2017|Uncategorized|4 Comments

Foreign Resident Capital Gains Withholding Payments

Last year laws were passed legislation and came into effect from 1 July 2016 that relate to property sales with a market value of $2 million or more.  If a contract of sale is entered into on or after 1 July 2016, the vendor will now need to apply to the ATO for a clearance certificate. [...]

2017-06-26T17:15:50+00:00April 3rd, 2017|Contracts|118 Comments

Uber’s GST Fight with ATO over for now

Uber has recently lost an 18 month battle with the ATO where the Federal Court ruled that Uber ARE a taxi service.  What this means is that Uber drivers, whether they are full time or only casual, will have to pay 10% GST to the ATO on top of the 25% commission to Uber. Uber’s [...]

2017-06-27T04:13:00+00:00March 6th, 2017|Compliance, Employment Law, Tax|2 Comments