NSW announces tougher penalties for payroll tax avoidance

NSW announces tougher penalties for payroll tax avoidance

The NSW Government has announced that it will introduce new legislation to increase penalties for payroll tax avoidance, as well as providing it with the ability to name taxpayers who have underpaid payroll tax on wages. The changes are directed at those employers who...
ATO data-matching: residency for tax purposes

ATO data-matching: residency for tax purposes

The ATO has announced a new data-matching program that will use information collected from the Department of Home Affairs. It is designed to determine whether business entities and individuals are Australian residents for tax purposes and whether they’ve met their...
Can your business claim a tax deduction for bad debts?

Can your business claim a tax deduction for bad debts?

April 2021 has been a closely observed month financially, with many government COVID-19 economic supports coming away. There’s no doubt that some businesses will find themselves owed debts that cannot be recovered from customers or other debtors. If your business is...
ATO targets contractors who under-report income

ATO targets contractors who under-report income

More than 158,000 businesses have now reported all their payments made to contractors in the 2019–2020 year, and the ATO is using its Taxable Payments Reporting System (TPRS) to make sure the payments, totalling more than $172 billion, have been properly declared by...
ATO focus in relation to JobKeeper

ATO focus in relation to JobKeeper

The ATO has recently announced it’s keeping an eye out for areas of concern in relation to JobKeeper, including what may constitute “fraudulent behaviour”. It is paying special attention to situations where employers may have used the JobKeeper scheme in ways that...