Introducing ASFP
Plans are underway to carry out a system change during the December closure of the ATO to introduce Activity statement financial processin..
Strategies to increase profit
Whether you are struggling to keep up a steady income or wanting to grow your business, increasing sales revenue is often a central goal f..
How to avoid non-paying clients
Running a business is hard enough without having to chase up payments from your customers. Here are some measures you can take to prevent ..
Proactive consolidation with ILBAs
Inactive low-balance accounts (ILBAs) are a new category account that needs to be reported and paid to the ATO. This was introduced in the..
Time limit on GST refunds
Small businesses entitled to refunds of GST may not be aware of the four-year time limit on claiming those refunds. Your entitlement to a ..
Moving your business online
In order to keep up with the growing demands of digital accessibility and convenience, many businesses decide to partially or completely m..
Commutation authorities for SMSFs
Commutation authorities are issued by the ATO when a member of a SMSF has exceeded their transfer balance cap. A commutation authority wil..
Limiting tax deductions for holding vacant land
On the 28 October 2019, The Treasury Laws Amendment (2019 Tax Integrity and Other Measures No.1) Bill 2019 received royal assent. The new ..
Are you prone to emotional overspending?
Online shopping is available 24/7, making it easy to indulge in retail therapy whenever you’re feeling low. With many consumers using PayP..
The ATOs ABN cleanup
The ATO has announced that in October 2019, they will be focusing on the bulk Australian business number (ABN) cancellation program. This ..