Finance
Treasury to modify small business CGT concessions after proposed retrospective application left SME owners with surprise $500,000 tax bills
The Australian Treasury has cancelled the retrospective application of a set of “integrity measures” for small business capital gains tax (C…
NSW budget to deliver small businesses payroll tax cuts and help with removing red tape
With the New South Wales state budget to be delivered today alongside a surplus of $3.9 billion, SMEs in the state have already been picked…
ATO urged to reconsider “harsh and unfair” decision against truck driver that stripped him of all his superannuation savings
The deputy president of Australia’s Administrative Appeals Tribunal (AAT) has urged the tax office to reconsider a “harsh and unfair” …
Number of businesses not paying superannuation up 60% as government considers 12-month compliance amnesty for SMEs
Changes to how long businesses will have to pay their employees superannuation, and the penalties they’ll face if they don’t, are being …
ATO accused of being a “dictator” and “cooking” SMEs as government considers rules to enforce fair conduct
The Australian Taxation Office (ATO) has been accused of being a “dictator” and “a pack of bullies” in a Senate Committee hearing ye…
Banks come out swinging at royal commission claims
Major banks are fighting back after the financial services royal commission found they had left themselves open for findings of misleading a…
So you want to run an initial coin offering in Australia? Here’s everything you need to know
There has been increasing interest in initial coin offering/token sale/token generation events (ICO) in Australia this year. Below we set ou…
Have a stress-free July: Five tax time tips from the ATO for SMEs
It’s no secret that tax time can be one of the most painful times of the year for business owners, with a seemingly ever-changing list of th…
SMEs warned against “unreasonable” clothing tax deductions after business owner claimed $40,000 in laundry over two years
The Australian Tax Office (ATO) has warned business owners and individuals against “unreasonable” tax claims around laundry deductions t…
“Standard” deductions in the ATO’s sights this July, as SME owners urged to substantiate claims no matter how small
Businesses and individuals have been warned by the tax office’s assistant commissioner Kath Anderson against claiming “standard” deduc…
