by Team Garnet | May 13, 2022 | Small Business, Tax News
ATO is cracking down on GST fraud with Operation Protego, set up to investigation around $850m in potentially fraudulent payments. The ATO has lifted the lid on its most recent operation to stamp out GST fraud, Operation Protego, in order to warn the business...
by Team Garnet | Apr 28, 2022 | Investments, Tax News
It is estimated that more than 800,000 Australians participated in the crypto & digital assets market in the last three years. With the release of terms of reference for various reviews into the regulation and taxation of crypto & digital assets, it’s time to...
by Team Garnet | Apr 22, 2022 | Business Structures, Small Business
Now is a good time to check that your business’ PAYG instalments still reflect its expected end of year tax liability. The PAYG instalment system allows a business to spread its income tax liability across the tax year. This helps with cash flow but also means the...
by Team Garnet | Sep 8, 2021 | Tax News
High-income individuals may receive a Div 293 concessional contributions tax assessment in the mail for the 2018-19 or 2019-20 income years, it is not a mistake. Div 293 tax is imposed on individuals that exceed the high-income threshold of $250,000. The consequence...
by Team Garnet | Sep 1, 2021 | Small Business, Tax News
Has your business received State or Territory COVID-19 grants in the past tax year? If you have, you may not know that some grants may be taxable while other grants are not. After another challenging year, businesses may be wondering whether the amounts they’ve...
