by Team Garnet | Jul 8, 2023 | ATO, Small Business
With the advent of a financial year, temporary expensing is now no longer available, but small businesses still have access to the instant asset write-off. What is the instant asset write-off? Eligible businesses can claim an immediate deduction for the business...
by Team Garnet | Jun 23, 2023 | ATO, Tax News
This tax time, the ATO is ramping up its data-matching program and capabilities with two new programs. Taxpayers beware, this tax time, the ATO will be using all its data matching capabilities in multiple areas to ensure that individuals are paying the correct amount...
by Team Garnet | Jun 13, 2023 | ATO
The ATO has identified some common Single Touch Payroll (STP) Phase 2 mistakes for employers to avoid. Single Touch Payroll (STP) was introduced as a way for employers to send super and tax information directly to the ATO through the use of STP-enabled software...
by Team Garnet | Jun 7, 2023 | ATO, Superannuation
Trustees of SMSFs have been provided with some insights on the risks ATO will be focusing on in the SMSF space for 2023. In a recent speech, Justin Micale, ATO Assistant Commissioner of Self Managed Super Funds Risk and Strategy area outlined the risks on ATO’s radar...
by Team Garnet | May 31, 2023 | ATO, Tax News
This tax time, the ATO will be targeting loan interest expenses, working from home deductions, and CGT on main residences also used for income-producing purposes. With the end of the financial year fast approaching, the ATO has again released the areas it will be...
by Team Garnet | May 26, 2023 | ATO, Business Structures, Tax News
The government has released new measures relating to businesses in the 2023 Budget. The 2023 Budget has been handed down by Treasurer Jim Chalmers. In addition to the cost-of-living and welfare measures leaked ahead of the Budget, the government also released new...
