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 8, 2023 | ATO, Business Structures, Small Business
ATO has warned content creators that they need to be aware of their income tax and GST obligations. If you start making money from your online content, you will have income to declare. You will also need to consider whether you are in business. If you are, or you want...
by Team Garnet | Nov 24, 2022 | Business Structures, Small Business, Tax News
Rental waivers, deferrals or variations from your business’s landlord may seem like a good thing but beware of the potential income tax, GST and even CGT consequences of deferred rent. If you run a business from rented premises, there may be tax consequences when rent...
by Team Garnet | Oct 8, 2022 | ATO, Business Structures, Small Business, Tax News
Did you know you can vary your pay-as-you-go (PAYG) instalments due to a change in your financial situation? Should you be varying your PAYG instalments? Pay-as-you-go (PAYG) instalments are prepayments of your expected income tax for the year. If your total PAYG...
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...
