Government opens large cash payments consultation

Government opens large cash payments consultation

The proposed measure was announced in the budget to ensure Australians receive a fair go and that illegal black economy behaviour is stopped in its tracks, said Minister for Revenue and Financial Services, Kelly O’Dwyer.The cash payment limit is proposed to apply to...
Keeping on the ATO’s good side this EOFY

Keeping on the ATO’s good side this EOFY

The Australian Taxation Office (ATO) has again put small businesses on notice that they’ll be paying special attention to work-related deductions. It’s essential for accountants to know what their clients can rightfully claim. Getting it wrong, either by accident or...
Unpaid super given amnesty treatment for SMEs

Unpaid super given amnesty treatment for SMEs

The amnesty began on Thursday under its Treasury Laws Amendment (Superannuation 2018 Measures) Bill 2018.Under the amnesty, employers must pay all that is owing to their employees, including the high rate of nominal interest, said Minister for Revenue and Financial...
Government moves on SME subcontractor protections

Government moves on SME subcontractor protections

Earlier this week, the government released the final report of its review of security of payment laws within the building and construction industry.It made 86 recommendations to improve consistency in security of payment legislation as well as enhance protections to...
Bulk of business scam losses from SMEs, stats reveal

Bulk of business scam losses from SMEs, stats reveal

According to the ACCC’s Targeting scams 2017 report, SMEs represented $3.82 million (81.4 per cent) of the $4.66 million in reported losses through business scams in 2017.SMEs also represented 3,732 (68.7 per cent) of the 5,432 reports it received from businesses in...