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New sharing economy reporting regime proposed by ATO

New sharing economy reporting regime proposed by ATO

by Team Garnet | Aug 25, 2021 | Small Business, Tax News

As the sharing economy becomes more prevalent and fundamentally reshapes many sectors of the economy, the government is scrambling to contain the fallout. While there is no standard definition of the term sharing economy, it is usually taken to involve two parties...
Reminder: super changes for the 2021 financial year

Reminder: super changes for the 2021 financial year

by Team Garnet | Aug 18, 2021 | Superannuation, Tax News

From 1 July 2021, a whole raft of super changes as a part of the government’s more flexible superannuation has come into effect. Three of the most important superannuation changes consist of: the increase in bring-forward arrangement contributions cap, the removal of...
ATO data matching of lifestyle assets extended

ATO data matching of lifestyle assets extended

by Team Garnet | Aug 11, 2021 | Investments, Tax News

ATO is continuing its blitz on individuals with the extension of a data-matching program on lifestyle assets, find out what details will be captured here. Owners of lifestyle assets beware, the ATO has extended its data-matching program for another 2 years. The...
Tax consequences of rental concessions, deferral or waiver

Tax consequences of rental concessions, deferral or waiver

by Team Garnet | Aug 4, 2021 | Small Business, Tax News

If you’re a tenant or a landlord and have either received or given rental concessions, deferrals or waivers during the last financial year, here’s how the concessions should be treated. As many tenants and landlords turn their attention to their 2020-21 tax...

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