ATO Warns About iTunes Scammers
The ATO is reminding the public to be alert to scammers impersonating the ATO demanding iTunes gift cards as a form of tax debt payment Of the 8692 phone scam reports the ATO received in April 2016 in relation to…
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ATO Reminder About 30 June SuperStream Deadline
With the 30 June 2016 deadline looming, the ATO strongly encourages small businesses to get on board with SuperStream as soon as possible. SuperStream is the standardisation of how employers make super contributions on behalf of their employees, and involves…
New Simpler BAS On The Way
The ATO has been working on ways to deliver a simpler business activity statement (BAS) to simplify account set-up, record keeping, BAS preparation and lodgment for agents and their clients, and make it less costly. To achieve this, several GST…
ATO’s Continuing Focus On Trust Property Developers
In recent years, the ATO has focused on trusts developing and selling properties as part of their normal business. When these developed properties are sold, some trusts incorrectly claim a 50% CGT discount. The ATO will continue to target arrangements…
2016/17 Federal Budget
The government handed down the 2016/17 Federal Budget on Tuesday 3rd May. It included (among many changes) proposed personal income and company tax cuts from 1 July 2016, the extension of GST to all imports (irrespective of value) from 1…
SMSFs and Collectables – Last Opportunity To Comply
From 1 July 2011, SMSF investments in collectables and personal-use assets have been subject to stricter rules than SMSF investments in other assets (such as shares and property). Editor: Assets considered collectables and personal-use assets include things like artwork, jewellery,…