by Team Garnet | Sep 2, 2018 | Small Business
The ABN system was originally introduced as a simple way to provide businesses with unique identifier when dealing with the government. It has since become a de facto licence to do business despite no substantial changes in the application process in the intervening...
by Team Garnet | Jul 16, 2018 | Superannuation, Tax News
If you are the trustee of one of the approximately 577,000 SMSFs in Australia at the moment, there are some areas the ATO wants you to pay particular attention to including the sole-purpose test, the in-house asset rules, unlawful schemes and arrangements, and...
by Team Garnet | Jul 9, 2018 | Tax News
Beware of work-related clothing and laundry expense claims this tax time, the ATO is cracking down on individuals making unsubstantiated and exaggerated claims. It has reminded taxpayers that only uniform, protective or occupation-specific clothing that you are...
by Team Garnet | Jul 4, 2018 | Superannuation, Tax News
From 1 July 2018, people aged 65 or over will be able to make additional non-concessional contributions of up to $300,000 from downsizing their home subject to certain conditions. This is in addition to the concessional and non-concessional contribution caps. However,...
by Team Garnet | Jun 19, 2018 | Tax News
Pre-lodgement compliance reviews (PCRs) are increasingly being used by the ATO to resolve potential compliance concerns as they arise. Previously, PCRs have only been applied to significant taxpayers such as public companies, international groups, and large Australian...
