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Record keeping requirements
As a business you’re required to keep detailed records for all transactions in your business but the admin of this can be cumbersome and tiresome. We’ve outlined below the requirements for income tax and GST purposes to help businesses understand what is required.
Loss carry back for companies
As part of the broader assistance through COVID the Government introduced a loss carry back tax offset that allows companies to carry back tax losses from the 2020-2023 financial years to previously profitable years from 2019 resulting in a refundable tax offset.
Changes to super for new employees
Summary Effective from 1 November 2021, employers will have an additional step when onboarding new...
Director identification numbers
It’s time to apply
As part of the 2020 Budget Digital Business Plan, the government announced the introduction of a requirement for all directors to register for a unique director identification number (DIN) that is intended to mitigate illegal ‘phoenixing’ activity and provide more transparency.
So you’ve got an ABN, what’s next?
There is an endless list of things to consider when you start your business so we’ve pulled together this helpful guide to get your on the right path with your tax registrations.
Crypto
Tax on Staking Rewards
Crypto investors can ‘stake’ their coins or tokens in return for rewards, generally in the form of additional coins or tokens. Investors need to understand the tax consequences that arise as a result of receiving the staking rewards to make informed decisions and plan for tax liabilities.
