ATO’s three focus areas this tax time

Crypto Tips for Small Businesses

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Hello Chasers, Crypto is becoming more mainstream within the small business community, including small business owners who pay salary and wages in crypto and/or receive it as payment, and established…

Income from Personal Effort or Skills

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Hello Chasers, The ATO is reminding taxpayers that, if over half their income is from a contract for their personal effort or skills (rather than earned from the use of…

Jail Sentence for Fraudulent Developer

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Hello Chasers, Here’s another example of tax crime that doesn’t pay! A developer who conspired to lodge fraudulent business activity statements has been convicted and sentenced to 10 years in…

SMALL BUSINESS CONCESSIONS

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Hello Chasers, The ATO has recently issued a reminder that small business owners may be eligible for concessions on the amount of tax they ultimately pay.   This depends on their…

More Money for Super

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Hello Chasers, The big news story for those contributing to super is that the contribution caps are set to increase from the 1st July 2024. The concessional contribution cap will…

Random Audits on the Rise!

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Hello Chasers, Would your business pass an audit under the ATO’s microscope? Tax time isn’t just stressful for individuals anymore!  Businesses, beware!  The Australian Taxation Office (ATO) is ramping up…