by Team Garnet | Aug 25, 2021 | Small Business, Tax News
As the sharing economy becomes more prevalent and fundamentally reshapes many sectors of the economy, the government is scrambling to contain the fallout. While there is no standard definition of the term sharing economy, it is usually taken to involve two parties...
by Team Garnet | Jul 23, 2021 | Tax News
Have you made a donation through workplace giving or a salary sacrifice arrangement? What you can deduct on your tax return may differ. With tax time well and truly upon us, many of us will be looking at what deductions we can claim in this year’s tax return. If...
by Team Garnet | Jul 7, 2021 | Small Business, Tax News
The ATO crackdown on individual taxpayers continues with another data-matching program on novated leases. Following on from the revelation that the bulk of tax collected by the ATO comes from individual taxpayers, it comes as no surprise that the ATO is continuing to...
by Team Garnet | Jun 23, 2021 | Business Structures, Small Business, Tax News
Get ready, tax time 2021 is fast approaching, the ATO noted it will be focusing on work-related expenses such as car and travel expenses. While the ATO annual statistics releases are usually quite dry and technical, it does give a nice insight into why the ATO does...
by Team Garnet | May 26, 2021 | Business Structures, Small Business, Tax News
The 2021 Fringe Benefits Tax return for the period 1 April 2020 to 31 March 2021 is due soon. For those businesses that prepare their own returns, lodgment of the return can be made up until 25 June 2021 without incurring a failure to lodge on time penalty. Although...
