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Tax

New Rules Pending for Reporting Business Tax Debt to Credit Agencies

Cash flow is one of the biggest challenges for SMEs. So when it comes time to meeting tax payment obligations, many businesses end up owing money to the ATO. The tax debt owed to the ATO represents 63 per cent of all tax debt, which was around $13 billion in June 2018. In the 2017-2018 financial year, small businesses had 800,000 of the 1.1 million tax debt payment plans with the ATO.
Single Touch Payroll

What is Single Touch Payroll?

With Single Touch Payroll (STP) you can send tax and superannuation information directly to the ATO from your accounting or payroll software, each time you pay your employees. Here we’ll cover the basics of single touch pay and how it affects Australian businesses.
Fringe Benefits Tax Also Known As FBT

A Short Guide to Fringe Benefits Tax (FBT) for Small Business

While income tax and company tax seem to be front of mind for most businesses, fringe benefits tax (FBT) is applicable when employers provide certain benefits to their employees or associates of employees (usually family members connected to their employment). Let’s look at the basics of fringe benefits tax.
Register For GST

When Should You Register for GST?

New and established small businesses need to consider if and when to register for GST. Small businesses that are below the $75,000 threshold for GST registration will need to weigh the pros and cons of registering.
ATO Garnishee Notice Blitz

How to Avoid the ATO Garnishee Notice Blitz

Did you hear the ATO’s cracking down on tax debt harder than ever? Their latest approach has been to increase the number of garnishee notices they issue to business owners with outstanding tax debt. That means they could withdraw cash directly from your bank account to recover debts. Here’s what you need to know about the crackdown, and how to avoid it.

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