The Accounting Division Blog
Be careful when changing business structures
While some sectors of the economy is suffering, others are booming, if you’re lucky enough to have a small business in a rapidly growing sector,
Get ready for e-Audits
The ATO is finally catching up with the times by using computer assisted verification techniques to conduct audits, a process they are calling e-Audits. The
Be careful when changing business structures
If your small business has not only survived but thrived during the pandemic, you may be considering a change of business structure, typically from sole
Accountability in Business
Most small business owners know exactly what they want to achieve from their business, but very few communicate their goals to their support team. It’s
Last chance to claim the loss carry back
Eligible businesses will have one last chance in their 2021-22 tax return to claim the loss carry back, which provides a refundable tax offset to
Cash payments limit coming soon
As a part of the crackdown on black economy, a cash payment limit of $10,000 has been proposed. Any transaction that exceeds $10,000 will need
Small Business Benchmarks
Starting a business is hard work. It starts much earlier than your first day of trading. Lots of planning, building and training goes in to
Three common CGT obstacles for homeowners
Many homeowners are not aware that the “main residence” rules exempting the family home from capital gains tax (CGT) are in fact quite complex and
ATO spotlight on Visa holders, sponsors and migration agents
The ATO has launched the latest round of their data-matching program to include all visa holders, visa sponsors and migration agents. The ATO will request
ATO blitz on the sharing economy continues
The sharing economy is booming in Australia with a large proportion of the population either making it their full-time job or making a little extra