ATO warning to SMSFs: “Paying the price for non-compliance”There are various courses of action available to the ATO when trustees of self-managed super funds (‘SMSFs’) have not complied with the super laws, including applying administrative penalties. READ MORE HERE

Director ID deadline is approachingThe Government has launched an awareness campaign to help company directors get their director identification number (‘director ID’) as the 30 November deadline approaches. A director ID is a unique 15‑digit identifier that a company director will apply for once and keep forever.  Director IDs are administered by the Australian Business […]

Queensland Land Tax Back Flip “Last month’s issue we made you aware of the Queensland Government law change, allowing them to increase the Land Tax payable on Land Held in Queensland by using the value of Land Held in other States in calculating the amount payable.The Queensland Government has recently announced they are abolishing this […]

More COVID-19 business grants are now tax-free The Federal Government has expanded the list of State and Territory COVID-19 grant programs that may be tax-free to eligible businesses. A State or Territory Government COVID-19 grant payment will generally be tax-free if: 1.     the payment is received under a grant program that is formally declared to […]