by Team Garnet | Sep 23, 2022 | ATO, Business Structures, Small Business
The government has proposed to give small businesses a temporary 20% bonus tax deduction for employee training expenditure. As a part of its strategy to address the current skills shortage as well as to future-proof Australia’s workforce by building better trained and...
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 10, 2022 | Garnet Business Services, Tax News
ATO is again focusing on income and deductions this tax time for rental properties. Just as with previous income years, tax time 2022 is no different, the ATO has again cited rental property income and deductions as one of the 4 key focus areas, along with...
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 | Jul 13, 2022 | Tax News
The ATO has warned taxpayers against participating in asset wash sales to inflate their losses artificially. With COVID-19 lockdowns and restrictions in the rear-view mirrors of most of the country, the ATO is also beginning to resume normal compliance activity...
