We have all heard about the hype around cryptocurrency and especially Bitcoin. If you were lucky enough to buy some of these currencies and have made a tidy profit, or if you are looking at entering the cryptocurrency market you need to know the tax implications of bitcoin. It all depends on what purpose you […]
Paying your employee’s super on time, in full, is essential. It is amazing how many businesses we see that don’t pay super on time or struggle to meet their quarterly PAYGW obligations. So, what can you do to avoid the cash flow nightmare? Each week or fortnight when you process the payroll you should be […]
With the festive season looming it’s important to know the Fringe Benefit Rules for celebrations. Fringe Benefits Tax (FBT) applies where an employer provides a benefit to an employee other than their regular salary or wage. If an expense incurs FBT it then becomes tax deductible and GST can be claimed. One of the easiest […]
Sometimes circumstances can make it hard to pay the Australian Tax Office (ATO) in full on time. With this in mind, the ATO allow payment arrangements on certain occasions. It’s important to know all the terms of these arrangements, just like you would with bank finance.
Watch out! From 1 July 2017 the ATO have a new power – they are now able to disclose your tax debt information to Credit Reporting Agencies.