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 | 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 22, 2022 | Business Structures, Small Business, Tax News
You are legally required to keep records of all transactions relating to your tax and superannuation affairs. Failing to keep correct records can have financial consequences. You are legally required to keep records of all transactions relating to your tax and...
by Team Garnet | May 13, 2022 | Small Business, Tax News
ATO is cracking down on GST fraud with Operation Protego, set up to investigation around $850m in potentially fraudulent payments. The ATO has lifted the lid on its most recent operation to stamp out GST fraud, Operation Protego, in order to warn the business...
by Team Garnet | Apr 7, 2022 | Business Structures, Money, Small Business, Tax News
The 2022 Federal Budget has been handed down with some sweeteners for small businesses. On Tuesday, 29 March 2022, Treasurer Josh Frydenberg handed down the 2022-23 Federal Budget, his 4th Budget. In an election Budget, the Treasurer announced a range of measures...
