by smithfeutrill | Jul 3, 2020 | Tax
The end of the financial year has rolled around again, but this time, COVID-19 may affect the way you fill out your tax return. The ATO has released a range of methods to make tax time easier for businesses and individuals experiencing unprecedented circumstances. How...
by smithfeutrill | Jul 3, 2020 | Uncategorized
In an effort to minimise physical contact during the global pandemic, most businesses are making the switch to cashless payments. While contactless credit cards and mobile wallet applications remain the most common type of cashless payments, many other methods have...
by smithfeutrill | Jul 3, 2020 | Tax
Companies that are interested in a petroleum project may have lodgement, reporting and payment obligations under the petroleum resource rent tax (PRRT). According to the ATO, a petroleum project exists if a production licence is in force, but an entity is not liable...
by smithfeutrill | Jun 26, 2020 | Tax
New car threshold amounts will be implemented from 1 July 2020. Understanding the new thresholds and how they may affect your small business operations and vehicle usage will be important in preparing you for the financial year ahead. Income tax: There is an upper...
by smithfeutrill | Jun 26, 2020 | Super
Self-managed super funds can carry on a business providing the business is allowed under the trust deed and operated for the sole purpose of providing retirement benefits for fund members. Carrying on a business through an SMSF does have restrictions that other...
