by Team Garnet | Jul 20, 2023 | ATO, Tax News
From 1 July 2023, employers have the option to use appropriate alternative statutory evidentiary documents to satisfy FBT record-keeping requirements. Employers that provide certain fringe benefits to their employees can soon use appropriate alternative statutory...
by Team Garnet | Jul 17, 2023 | Small Business, Tax News
Individuals, including sole traders, and partnerships (where at least one of the partners is an individual) can use the cents per kilometre method for car-related work or business expenses. The cents per kilometre method is a simple way to work out how much you can...
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 | 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...
by Team Garnet | Apr 1, 2023 | ATO, Tax News
The ATO Second Commissioner, Jeremy Hirschhorn, recently spoke at a conference that provides some insights into how the ATO will be closing the tax gap. He outlined how the ATO is transforming tax administration by using tax gap data collected. Essentially, the tax...
