by Team Garnet | Oct 22, 2021 | Capital Gains, Tax News
Taxpayers that have received gifts or loans from overseas family and relatives beware, the ATO is currently scrutinising these types of transactions. The ATO has recently issued an alert, warning taxpayers against disguising undeclared foreign income as gifts or loans...
by Team Garnet | Oct 8, 2021 | Tax News
The ATO is continuing to run the medium and emerging private groups program, if you and your associates have “wealth” over $5m you could be targeted. The ATO runs many compliance programs targeting privately owned and wealthy groups, while the majority of the...
by Team Garnet | Aug 25, 2021 | Small Business, Tax News
As the sharing economy becomes more prevalent and fundamentally reshapes many sectors of the economy, the government is scrambling to contain the fallout. While there is no standard definition of the term sharing economy, it is usually taken to involve two parties...
by Team Garnet | Aug 18, 2021 | Superannuation, Tax News
From 1 July 2021, a whole raft of super changes as a part of the government’s more flexible superannuation has come into effect. Three of the most important superannuation changes consist of: the increase in bring-forward arrangement contributions cap, the removal of...
by Team Garnet | Jul 23, 2021 | Tax News
Have you made a donation through workplace giving or a salary sacrifice arrangement? What you can deduct on your tax return may differ. With tax time well and truly upon us, many of us will be looking at what deductions we can claim in this year’s tax return. If...
