Payday Super &Testamentary Trust

Budget 2018: What’s in it for you It’s May which means it’s Budget time. In the last full Budget before the next Federal election, the Treasurer delivered an election Budget with enough sweeteners for everyone including businesses, income tax relief…

Tax Inspector-General to review ATO’s use of garnishee notices The Inspector-General of Taxation (IGT), Mr Ali Noroozi has announced an investigation into the allegations made during the ABC Four Corners program, aired on 9 April 2018, regarding the ATO’s use of garnishee notices. Garnishee…

Travel deductions to and from rental premises no longer allowed If you own residential premises that you rent out, you should be aware that you may no longer be able to claim travel deductions connected with trips you make to…

Good reminder from the ATO to look at the Tax Invoices you receive from your suppliers (& also the ones you issue!). The problem for us is if we receive an incorrect invoice from a supplier (they said they were…

Tax debts to affect your credit score Tax debts could soon affect the credit scores of businesses, with the government’s introduction of draft legislation to allow ATO to share debt details of businesses to credit rating agencies. The proposal only…