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MayHow to apply for super held by the ATO online or by using the paper application form (NAT 74880). Manage your super online You can manage your super using our online services. This includes applying for your ATO-held super money and uploading supporting documents. To use our online services, you need to create a myGov account and […]
21
MayInstructions for foreign investors who need to register an asset or update details about an existing asset. What is an asset An asset can be a: There is no fee payable to register assets. Register a new asset Check the information required to register the relevant asset type. Have the information you need ready to complete the registration in[…]
14
MayJ5 deliver crypto asset investigation training to over 50 members of Australia’s Serious Financial Crime Taskforce. Last week, specialists from across Joint Chiefs of Global Tax Enforcement (J5) jurisdictions delivered crypto asset investigation training to over 50 members of Australia’s Serious Financial Crime Taskforce (SFCT). This collaboration between the J5 and SFCT comes at a critical time,[…]
14
MayOn Sunday 12 May, I’ll be participating in the Mother’s Day Classic Charity Event in Melbourne with my daughter and nieces, along with thousands of Australians in other capital cities. We’ve dedicated our donation to my sister’s memory, with the funds going to breast and ovarian cancer research. The Mother’s Day Classic is truly inspirational and has led[…]
03
MayNFPs need to get ready for new return From 1 July 2024, non-charitable not-for-profits (‘NFPs’) with an active Australian Business Number (‘ABN’) (sporting, community and cultural clubs, among other organizations) will be required to lodge a new annual NFP self-review return with the ATO to confirm their income tax exemption status. Non-charitable NFPs that have an active[…]
03
MayGovernment warns of ‘malicious’ MyGov scammers The Government says the ATO or MyGov will never send an email or text message with a link to sign in to MyGov. The ATO has received a large number of reports of scammers using fake MyGov sites to steal MyGov sign-in details, which can be used to commit tax and[…]
18
MarFind out how your small business compares to others in your industry. We’ve updated our small business benchmarks for 2021–22. The benchmarks help you compare your business turnover and expenses to other small businesses in the same industry. For example, Deb runs a pizza shop as a sole trader. She’d like to track her business against other pizza shop[…]
12
MarLoans to members continue to be the highest reported contravention of the superannuation laws that the ATO sees in auditor contravention reports. SMSF trustees should remember that they cannot loan money or provide other forms of financial assistance to a member or relative, and if they do, they can incur a penalty of up to $18,780. They[…]
04
MarPrivate company clients who receive payments, benefits or loans from their private companies need to ensure compliance with their additional tax obligations (which are often referred to as their ‘Division 7A’ obligations).There are multiple ways in which business owners may access private company money, such as through salary and wages, dividends, or what are known as complying[…]
26
FebEmployers are reminded that, in relation to their SG obligations for the quarter ending 31 December 2023, the due date is 28 January 2024.If the correct amount of SG is not paid by an employer on time, they will be liable to pay the SG charge, which includes a penalty and interest component.The SG rate is 11%[…]
