Why tax credits and refunds are being offset
Is your refund or credit less than expected? The ATO has reached out to small businesses who may have recently received a letter advising that they have a debt on Read More…
Banking business income to a private account
Recordkeeping and monitoring business cash flow The ATO has stated that it has “no concerns” with business owners banking their business takings or other sales in private accounts, but that Read More…
2022/23 October Federal Budget
Federal Budget overview On 25 October 2022, Treasurer Jim Chalmers handed down an updated 2022/23 Federal Budget, the first for the Albanese Labor Government. Key measures Certainty for unlegislated taxation Read More…
Small business tax incentives back on the table
The Government has confirmed its commitment to implementing two tax incentives These aim to support small businesses to train and upskill employees, and improve their digital and tech capacity. The Read More…
More COVID-19 business grants are now tax-free
Federal Government expands tax-free status of more COVID-19 grant programs The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible Read More…