by Team Garnet | Jul 27, 2023 | ATO, Tax News
Businesses who make payments to contractors may need to report these payments and lodge a Taxable payments annual report (TPAR). You will need to lodge a TPAR if your business made payments in the last financial year (ie the one ending 30 June 2023) to contractors...
by Team Garnet | Jul 20, 2023 | ATO, Tax News
From 1 July 2023, employers have the option to use appropriate alternative statutory evidentiary documents to satisfy FBT record-keeping requirements. Employers that provide certain fringe benefits to their employees can soon use appropriate alternative statutory...
by Team Garnet | Jul 8, 2023 | ATO, Small Business
With the advent of a financial year, temporary expensing is now no longer available, but small businesses still have access to the instant asset write-off. What is the instant asset write-off? Eligible businesses can claim an immediate deduction for the business...
by Team Garnet | 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...
by Team Garnet | 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...
by Team Garnet | 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...
