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...
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 17, 2022 | Small Business, Tax News
The ATO is reminding businesses this tax time 2022 to see if there are tax-deductible items or concessions they are able to access and to consider their record-keeping habits of the past year. As the end of another tax year approaches, the ATO has reminded businesses...
by Team Garnet | Nov 3, 2021 | Business Structures, Small Business, Tax News
Need to lower your company’s tax payable? The easiest way is to utilise prior-year tax losses, however, beware of conditions that apply With tax time 2021 nearly over, many businesses will now be finalising their tax returns. For many of these businesses, the 2020-21...
by Team Garnet | Sep 1, 2021 | Small Business, Tax News
Has your business received State or Territory COVID-19 grants in the past tax year? If you have, you may not know that some grants may be taxable while other grants are not. After another challenging year, businesses may be wondering whether the amounts they’ve...
