Government announces Jobkeeper Payment to support business

On Monday 30th March the Federal Government announced that it will invest $130 billion dollars into trying to support Australian workers with the new Jobkeeper Payment.

Lifestyle assets new target of the ATO

The ATO has requested insurance policy information from 30 insurers for lifestyle assets such as yachts, thoroughbred horses, and fine arts.

Taxation, Financial AccountingJPR BUSINESS GROUP3 February 2020taxation, tax, insurance, ATO

The Super Guarantee timing trap for employers

How employers are being caught out by the timing of superannuation guarantee payments.

Bushfire relief from ATO obligations

The ATO has provided relief from lodgement compliance and payment obligations for those impacted by the bushfires. An automatic two month deferral for activity statements lodgements and payments due has been provided to those in affected postcodes.

Tax alert: Distributions to non-resident beneficiaries

The ATO’s recently released interpretation of the tax treatment of capital gains distributed by an Australian discretionary trust to non-resident beneficiaries will have a significant negative impact for some.

TaxationJPR BUSINESS GROUP3 October 2019ATO, Tax, Taxation, Capital Gains Tax

The small business tax shortfall is worth $1.1 billion

Last month, the ATO released statistics showing small business is responsible for 12.5% ($11.1 billion) of the total estimated ‘tax gap’. These new figures give visibility to tax compliance issues within the small business sector and indicate where we can expect ATO resources to be focussed now and in the future.

Financial Accounting, Investment, TaxationJPR BUSINESS GROUP1 September 2019ATO, Tax, Taxation, small business, business

Personal income tax changes – addressing the confusion around what you are really entitled to?

The recent income tax cuts that passed through Parliament do not mean everyone automatically gets $1,080 back from the Government as soon as they lodge their income tax return. The Australian Taxation Office (ATO) has been inundated with calls from taxpayers wanting to know where their money is and how they can access the $1,080 they now believe is owing to them.

TaxationJPR BUSINESS GROUP31 July 2019Tax, income tax, Taxation, personal tax, ATO, australian tax office

Tax time: Are you right in the ATO's sights?

A consistent theme this tax time is overclaiming and under reporting. With the Australian Taxation Office (ATO) getting more and more sophisticated in its data matching approaches, taxpayers can expect greater scrutiny where their claims are more than what is expected. We take a look at the key issues for you, your business and your SMSF.

Benefits during emergencies exempt from FBT

If your business assists employees during an emergency, for example floods, bushfires etc., then fringe benefits tax is unlikely to apply to the assistance you provide. While we doubt anyone would be thinking about FBT during a crisis, it’s good to know that the tax system does not disadvantage your generosity.

TaxationJPR BUSINESS GROUP7 March 2019FBT, Taxation, Tax, ATO

Single touch payroll extended to all employers

From 1 July 2019, single touch payroll – the direct reporting of salary and wages, PAYG withholding and superannuation contribution information to the ATO – will apply to all employers. What employers need to report will also be extended to include certain salary sacrificed amounts.