Unpaid “crypto” tax another big target for ATO revenue collection
For some time now, the ATO’s data matching arm has been collecting bulk records from Australian cryptocurrency designated service providers.
Sometimes it pays to listen to your accountant -not paying GST can lead to jail
A warning to all: https://www.theage.com.au/national/victoria/melbourne-socialite-swaps-her-designer-wardrobe-for-prison-greens-20190627-p521w4.html
Single Touch Payroll is here
Single Touch Payroll changes the way in which you pay your employees and requires you to lodge through compliant software. From the 1st of July 2019 this will affect every business and if you are unsure or are not yet compliant please call our offices on 03 9846 6542 or email info@townshendassociates.com
Warning!Check Deductions
Excerpt from Accountants Daily: Apart from work-related expenses, the Tax Office will also take a tougher stance around over-claiming of rental deductions and the non-declaration of rental income. “Another big thing we would say, and it is important particularly this year, because we are getting more and more information in our data collection, and that […]
Single touch payroll here for all small business for July 1 2019
From the ATO: Single Touch Payroll (STP) is a new way of reporting tax and super information to the ATO. If you are using a solution that offers STP reporting, such as payroll or accounting software, you will send your employees’ tax and super information to us each time you run your payroll and pay […]