Tax Archives

What is Single Touch Payroll?

26 Mar. 2019
Team @ Moula
Tax

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.

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

18 Mar. 2019
Team @ Moula
Tax

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.

GST Payment Time – How Can Finance Brokers Help Their Clients?

18 Feb. 2019
Team @ Moula
Tax

For many businesses, tax debt owed to the ATO is a serious challenge. As of mid-2018, the ATO was owed $19 billion. 70% of this amount consisted of tax debt owed by small to medium enterprises. That’s over $13 billion that SMEs owed to the ATO.

What Does the Proposed $3,000 Deduction Cap on Managing Tax Affairs Mean for Small Business?

14 Feb. 2019
Team @ Moula
Tax

In May 2017, Labor Party leader Bill Shorten announced that, if elected, his party would cap tax management deductions at $3,000 for individuals. The reaction from the accounting community, including the Institute of Public Accountants, was swift and negative. Here we’ll look at the proposed changes and what they mean for small businesses.

How to Avoid the ATO Garnishee Notice Blitz

18 Sep. 2018
Marketing @ Moula
Tax

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.

How to Get Your Business Tax-Ready

7 Aug. 2018
Team @ Moula
Tax

Having entered a new financial year, it’s a good time to start thinking about your tax obligations and available concessions so you can avoid any compliance issues and save time and money. Here are a few tips to help you prepare for tax time.

How to Unlock the Full Benefit of the Instant Asset Write-Off

7 May. 2018
Marketing @ Moula
Tax

The instant asset write-off can be an effective way to reduce your tax bill. See how you can use the instant asset write-off to invest in business equipment without affecting your cash flow.

Transacting in Cash? Watch Out for the ATO’s Latest Crackdown

1 Feb. 2018
Team @ Moula
Tax

The Australian Tax Office has been doing the rounds on businesses that deal with large amounts of cash, warning that they could be conducting more random audits in 2018.

Tax Arrears To Impact Credit Scores

29 Mar. 2017
Team @ Moula
Tax

For the first time, business ATO arrears may be reported to the credit agencies (Dun & Bradstreet, Veda, Experian etc) as soon as July 2017.

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