The Accounting Division Blog
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
Reportable payments system to be extended
The black economy is a significant growing economic and social issue in Australia. By some estimates, the size of the black economy is around 3%
COVID-19 impacts on FBT
As the pandemic drags on, there may be many unintended consequences for businesses in relation to benefits that you provide in addition to salary and
Airbnb and home sharing: Taxing implications
Do you rent out a part of your home, or a holiday home, on Airbnb, Stayz or another sharing site? Perhaps you see this as
Government tenders and tax compliance
Do you run a business that would like to bid on Commonwealth government contracts or is likely to do so in the future? From 1
2020-21 Victorian Budget: what’s in it for me?
The Victorian Treasurer has handed down the 2020-21 State Budget in challenging economic conditions. The government projects net debt will reach $87bn this year and
11/11/2022: Tax implications of deferred rent
If you run a business from rented premises, there may be tax consequences when rent is either waived, deferred or varied under commercial terms due
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
Are you declaring personal use of business trading stock?
Have you ever taken home an item of your business’ trading stock for your own personal use, or use by your family members? This is
Beware of clothing deductions this tax time
Beware of work-related clothing and laundry expense claims this tax time, the ATO is cracking down on individuals making unsubstantiated and exaggerated claims. It has
