A tax debt could destroy your credit rating
Australia’s tax system is too complicated. In fact, according to the report, ours is the third-most complex tax system in the world.
Australia’s tax system is too complicated. In fact, according to the report, ours is the third-most complex tax system in the world.
In case you missed the cues: the ATO is in crackdown mode. Its pre-end of financial year communication caused a surge in people filing their tax returns early this year, prompting the ATO to subsequently warn people to ensure they ‘get their returns’ right rather than rushing them.
It’s tax time, and there are some BIG changes this year. One of the most significant is that if you don’t meet your tax obligations, you won’t get some tax deductions.
Many business owners claim a home office as a tax deduction at tax time.
Following on from winning the prestigious Pentalitix Award at the end of last year for achieving outstanding results for clients, Jim Vass was asked to present ATB Partners at the Accounting Business Expo in Sydney recently.
Organisations with 20 or more employees are already reporting through STP unless they have specifically been granted a deferral. And now, smaller-sized organisations will need to migrate to STP as well.
It’s fair to say that over the past several years blockchain has developed something of a mixed reputation.
It hit the internet and initially knocked it sideways – hailed as the new revolutionary way of the future. And it still has that potential.
There’s nothing more certain in life than death and taxes.
And in business, there’s nothing more certain than taxes.
When you’re a business owner, alongside rent and wages, tax can be one of the biggest bills you’ll face over the course of a year.
We’re just in the first part of the new financial year. The lead up to end of financial year is always frantic. Businesses are in a mad scramble to get their BAS completed, PAYG reports finalised and GST totted up.
At ATB, we are passionate about and believe in small and medium business in Australia. As chartered accountants and business mentors, we’ve been providing financial solutions and advice to businesses throughout Australia and around the world for more than 20 years.