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June 2023 - Garnet Business Services
Buy Now Pay Later sector facing more regulation

Buy Now Pay Later sector facing more regulation

by | Jun 29, 2023 | Money

The Buy Now Pay Later (BNPL) market will soon be facing more regulation to bring it in line with other credit products. Late last year, the government released a consultation paper seeking views on options to regulate the Buy Now Pay Later (BNPL) market. The paper...
More ATO data-matching this tax time

More ATO data-matching this tax time

by | Jun 23, 2023 | ATO, Tax News

This tax time, the ATO is ramping up its data-matching program and capabilities with two new programs. Taxpayers beware, this tax time, the ATO will be using all its data matching capabilities in multiple areas to ensure that individuals are paying the correct amount...
STP Phase 2: avoid common mistakes

STP Phase 2: avoid common mistakes

by | Jun 13, 2023 | ATO

The ATO has identified some common Single Touch Payroll (STP) Phase 2 mistakes for employers to avoid. Single Touch Payroll (STP) was introduced as a way for employers to send super and tax information directly to the ATO through the use of STP-enabled software...
ATO SMSF focus areas for 2023

ATO SMSF focus areas for 2023

by | Jun 7, 2023 | ATO, Superannuation

Trustees of SMSFs have been provided with some insights on the risks ATO will be focusing on in the SMSF space for 2023. In a recent speech, Justin Micale, ATO Assistant Commissioner of Self Managed Super Funds Risk and Strategy area outlined the risks on ATO’s radar...