From 1 July 2014 a number of Australian businesses will have their PAYG withholding cycles changed, based on the amount of PAYG withheld by the ABN in the 2012-13 financial year. The ATO awards businesses small, medium or large withholder status according to the amount of PAYG that can... read more →
Jul
23
Jul
10
Businesses have specific obligations under Australian Consumer Law (ACL) when it relates to refunds, returns, guarantees and warranties. It is important that a business’s refund policy comply with ACL. All businesses have a legal responsibility to consumers. In relation to the sale of goods, these include guarantees that the goods:... read more →
Jul
08
Refund fraud occurs when people deliberately falsify tax returns, activity statements and other documents to claim refunds, rebates or offsets from the ATO that they are not entitled to. These fraudulent claims can be lodged by individuals on their own account or third parties on behalf of others. Often, this... read more →
Jul
04
The ATO has received additional Government funding to continue their focus on improving the voluntary compliance of wealthy Australians until 30 June 2017. The ATO began focusing on wealthy Australians in 2009-10 with the ultimate goal of influencing all wealthy Australians to pay their fair share of tax. The ATO... read more →
Jun
30
The ATO is increasing its audit focus on businesses that use contractors. It is essential that employers, employees and contractors know the difference between a contractor and an employee. It is illegal for businesses to incorrectly treat their employees as contractors. The ATO uses a combination of education and compliance... read more →
Jun
27
Business owners should be taking the time to review the business management accounts prior to 30 June 2014. This is best done with a tax advisor as they can help to identify tax areas and opportunities that may require further consideration. A few key areas that need to be reviewed... read more →
Jun
25
Owners of very small businesses, also known as micro businesses, frequently fail to allow for the risks they face and the importance of reducing risk in small business. The main reason most business owners would give for this oversight is they are just too busy working in the business to... read more →
Jun
23
There are many problems that occur when processing activity statements and tax returns that can lead to a delay in the ATO issuing refunds. However, these problems are often caused by small issues and can be easily avoided. Here is a list of tips to help minimise some... read more →
Jun
20
The High Court has reinforced the importance for businesses in taking care when advertising their products and services so that there is no misleading fine print. In June 2012 the Australian Competition and Consumer Commission (ACCC) was successful in obtaining orders in the Federal Court penalising TPG for engaging... read more →
Jun
18
From 1 July 2014, employers with 20 or more employees will begin using the Data and Payment Standard, also known as SuperStream, to make superannuation contributions to their employees. From 1 July 2015 small employers, with 19 or fewer employees, will also begin to make contributions using the new... read more →