by Team Garnet | Aug 10, 2023 | ATO, Superannuation
The ATO has warned taxpayers against entering into an SMSF scheme which purports to allow individuals to purchase property using money from their superannuation. With the never-ending increase in Australian house prices, many desperate home buyers are often turning to...
by Team Garnet | Jul 27, 2023 | ATO, Tax News
Businesses who make payments to contractors may need to report these payments and lodge a Taxable payments annual report (TPAR). You will need to lodge a TPAR if your business made payments in the last financial year (ie the one ending 30 June 2023) to contractors...
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 | 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...
