Tax
FollowTax Archives
ATO offers amnesty to small businesses with overdue tax lodgements
To be eligible for the amnesty, the small business must be an entity with an aggregated turnover of less than $10 millio...
How to make EOFY less stressful for your small business
Having a good understanding of the kinds of expenses you can claim as tax deductions has the potential to cut your tax b...
Tax relief for small businesses on the brink of insolvency
Over 6000 Australian businesses have already been placed into administration so far this financial year.
ATO urges taxpayers to declare all business income, including side hustles
With the Shared Economy Reporting Scheme set to commence on 1 July 2023, the ATO is further improving its tools to detec...
Unveiling the benefits of the Global Minimum Tax Rate for Australia’s small businesses
By addressing the issue of tax avoidance, the GMTR will benefit small businesses and foster fair competition.
Tax deductions for investors in energy efficiency a shot in the arm for small businesses
Rewiring Australia's research reveals that there are tens of billions of dollars wasted every year in the Australian eco...
Super changes feared to negatively impact small businesses
Under the new superannuation tax rates, super accounts with balances of more than $3 million would increase to 30 per ce...
ATO makes changes to working-from-home deductions
The cents per work hour has increased from 52 cents to 67 cents, covering energy expenses, phone usage, internet, statio...
Tax debts reach $34 billion as ATO resumes collection activities
Reports note that the ATO debt has been growing since 2019, further aggravated by suspended debt collection during the C...
Federal Government to deliver tax breaks for small businesses
Small businesses will receive a 20 per cent tax break for expenses incurred in the uptake of digital technology and an e...