JobKeeper to be extended
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What happens if your SMSF is non compliant?
While there are benefits to running an SMSF, they do not come without their compliance responsibilities. This includes lodging your fund’s annual return on time, attending to reporting obligations, and having an investment strategy. SMSFs who do not meet their obligations are subject to penalties by the ATO through the following measures. Education direction An…
JobKeeper GST turnover test released
The ATO has published a ruling on the decline in turnover test for businesses applying for the JobKeeper scheme as part of the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020. This turnover test requires businesses to calculate their ‘current GST turnover’ and ‘projected GST turnover’, subject to modifications to the definitions outlined in…
Do you have a suspicion you are paying too much tax?
We are often approached by people who do – and, more often than not, they are right. Each year, millions of people pay more tax than they need to. Tax laws are complicated and making sure you receive all the tax breaks you are entitled to can be a time-consuming process. These days, taxpayers are…
Protecting your staff from phishing scams
Businesses with employees working remotely must consider digital security measures to protect their business assets and the safety of their employees. Phishing scams are a particularly prominent security issue, especially for employees working with their personal devices and networks that may be insecure. Phishing scams are designed to steal information through mediums such as emails…