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The difference between an employee and an independent contractor has been an issue of confusion among SMEs for some time. Of course, the different tax and related consequences that flow from whether someone is an employee or contractor are important – but to some extent, they just muddy the waters. It’s important for SMEs to → Read More
Changes to tax law have made claiming car expense tax deductions simpler. → Read More
Let's be clear about this: Single Touch Payroll will be a major change for SMEs. → Read More
GST is a major tax compliance issue for SMEs, so you need to be on top of it. → Read More
The Australian Tax Office is piloting a scheme to give taxpayers some peace of mind and certainty about their tax returns. → Read More
Recent figures show that phoenix activity costs the Australian economy $3.2 billion each year. → Read More
The Australian Tax Office has issued a warning to taxpayers who do their own valuations - or use valuations from people without adequate qualifications. → Read More
The most recent statistics show that, in 2012-13, almost 2 million Australians returned rental income (or losses) in their tax returns. → Read More
A lot has been written about the capital gains tax (CGT) small business concessions, not all of it complimentary. → Read More
Several beneficial SME tax changes announced in the federal budget in May are now law, after royal assent was given to the amending legislation yesterday. → Read More
The ATO has announced that it will acquire names and addresses and other details of visa holders from the Department of Immigration and Border Protection. → Read More
The Australian Tax Office says it has been listening to what small business has been saying about what it wants from the organisation, and they're promising a "better experience". → Read More
The Treasurer announced in the 2015-16 federal budget that the methods used for calculating work-related car expense deductions would be simplified and modernised. → Read More
What constitutes the carrying on of a business for tax purposes is an age-old issue that has important consequences. → Read More
In May this year, the federal budget confirmed the government would introduce a grossed-up cap of $5000 p/a on the FBT concessions for salary-sacrificed meal entertainment benefits for certain organisations. → Read More
Legislation was introduced in Federal Parliament last week that proposes to make changes to the tax law to implement 2015 budget measures that will be welcomed by SMEs. → Read More
The cross-over and linking of the tax and social security systems, while sensible from a governmental point of view, has made both systems and the laws applying to them even more complicated. → Read More
The Federal Court recently considered a case involving engineering and construction company John Holland Group’s fringe benefit tax liability for fly-in-fly-out workers' travel. → Read More
Phoenix activity has been the subject of scrutiny by the ATO for some time but the taxman has recently raided businesses without prior notice. → Read More
The sweetener in this year’s budget for SMEs was undoubtedly the short-term accelerated depreciation write-off up to $20,000. Here are some vital details you need to know if you plan to claim it. → Read More