ATO’s hands tied with scrapping on-hold debts, expert says

The Tax Office lacks power under current laws to do anything about the wildly unpopular scheme despite plans to review its approach, according to a UNSW professor. . Relief for taxpayers with on-hold debts resurrected by the ATO is impossible...
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Sharing economy reporting regime for platform operators

Individuals participating in the sharing economy should be aware that transactions for supplying taxi travel/ride sourcing and short-term accommodation are now required to be reported under the sharing economy reporting regime (SERR). . That ...
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What Drives Your Business Growth and Profits?

Every business owner wants to grow their business and their profits.  . While there’s no secret formula or recipe, the fact is, business growth and improved profitability are outcomes achieved as a result of processes including marketing, you...
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Why employee v contractor comes down to fine print

The task of worker classification has been a long-running point of contention but the Commissioner’s response to recent court cases suggests a written contract is king. . The classification of an individual as an employee or contractor for PA...
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Accessing superannuation benefits.

Common conditions of release include the fund member having reached preservation age and retired, or commenced a transition-to-retirement income stream; ceasing an employment arrangement on or after the age of 60; being 65 years old even though they ...
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Do you know how to recover debts?

Beginning the year with a clean financial slate can be pivotal to your business’ health. . Clearing debts early enhances creditworthiness, reduces stress, and fosters cash flow. It also facilitates strategic planning and growth, setting a sol...
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Does your business have a company Power of Attorney?

An individual power of attorney gives an attorney legal authority to manage a person’s assets and financial affairs. . A company power of attorney authorizes a person or persons to act on behalf of a company and/or sign certain documents on i...
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Updated guidance on R&D claims

New taxpayer alerts on incorrect R&D claims that are attracting our attention. . We've released 2 new taxpayer alerts to warn entities and their advisers about our concerns regarding incorrect Research and Development (R&D) tax i...
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