All the important July 1 changes business owners need to know
The new financial year is here and on July 1 there's plenty of housekeeping to do for business owners - here's what you need to know.
Pay summaries out the window: ATO moves to quell confusion amid payroll changes
Pay summaries are being phased out with the introduction of Single Touch Payroll, and the ATO is taking a proactive approach.
‘What’s STP?’: Digital laggards still unprepared for payroll change, unaware they can defer
New research shows many micro employers are still not prepared for Single Touch Payroll, with most unaware they can apply for a deferral.
Tax office to scrutinise over $7 billion in car claims, concerned many are dodgy
Worried about dodgy car claims, the ATO says it will be giving added scrutiny to billions in work-related expenses this year.
Employers warned: Cash-in-hand tax “loophole” closing after black economy blitz
Employers paying cash-in-hand are being warned their tax deductions will be going out the window from 1 July amid an ongoing black economy crackdown.
Franking credits trap: Businesses warned to plan ahead this EOFY to avoid “tax leakage”
Franking credits should be front of mind for businesses this tax time as tax agents advise companies to think ahead to avoid tax leakage.
ATO single touch payroll wizard resigns less than three months from hard reporting deadline
The ATO has lost its single touch payroll program lead just months from the reporting deadline for hundreds of thousands of small businesses.
“Lean ships”: Cash-strapped small businesses plan to snub $30,000 instant asset write-off
While the government increased the instant asset write-off threshold to $30,000 earlier this year, businesses are looking for smaller purchases.
ATO to launch dob-in-a-business hotline in effort to crack down on $10 billion tax hole
The tax office is launching a whistleblower hotline, encouraging people to dob in business owners suspected of black economy activity.
“Long way to go”: ATO ramps up single touch payroll campaign as soft deadline looms
With the election in the rearview mirror, the ATO is ramping up its single touch payroll campaign ahead of the EOFY soft reporting deadline.
Four years’ jail for business owner convicted of almost $600,000 in tax fraud
A Brisbane-based business owner has been convicted of defrauding taxpayers by nearly $600,000.
Four EOFY tax hacks for small-business owners
Although it may seem daunting, there are some simple things you can do to boost your return come EOFY 2019 — and some may surprise you.
