by Team Garnet | Aug 24, 2022 | Business Structures, Small Business, Superannuation, Tax News
The government has introduced a raft of legislative changes covering businesses, individuals and superannuation. The new Labor government has wasted no time in introducing a raft of legislative changes in relation to previously abandoned measures and to implement its...
by Team Garnet | Aug 5, 2022 | Small Business, Tax News
An employee’s private use of an electric car provided by an employer may soon be exempt from FBT if newly introduced legislation passes Parliament. During the 2022 election campaign, Labor announced its Electric Car Discount policy in order to make electric cars...
by Team Garnet | Jul 29, 2022 | Money, Small Business
Small and micro businesses have been urged to be on the lookout for payment redirection scams which caused the highest losses to businesses in 2021. The Australian Securities and Investment Commission (ASIC) has warned small businesses to be alert for payment...
by Team Garnet | Jul 20, 2022 | Business Structures, Small Business, Tax News
New ATO guidelines will soon allow professionals with an ownership interest in their firm to self-assess the risk of their profit allocation arrangement. If you run a professional services firm there are many tax issues to consider in allocating profits. The ATO is...
by Team Garnet | Jun 30, 2022 | Small Business, Tax News
Small business owners beware, the ATO is again putting the appropriateness of deductions and omission of business income under the microscope this tax time. During this tax time, the ATO has once again reminded small businesses of their tax obligations and highlighted...
by Team Garnet | Jun 22, 2022 | Business Structures, Small Business, Tax News
You are legally required to keep records of all transactions relating to your tax and superannuation affairs. Failing to keep correct records can have financial consequences. You are legally required to keep records of all transactions relating to your tax and...
