Tax File Number An Important Information

Oct 20, 2021 | Accounting

A Tax File number which is often shortened to TFN is a unique ID number every Australian worker receives from the government. The TFN is used for an individual’s tax return, benefit payments and superannuation services.  Australians are also required to have a...

Cryptocurrency Tax Evaders: The ATO Extends Data-Matching Program Until 2023

Sep 10, 2021 | Accounting, Tax

Cryptocurrency tax evaders, The Australian Tax Office (ATO) has announced that over 600,000 Australians who have invested in cryptocurrency will no longer be able to hide from their tax obligations as the ATO extends its data-machine program until 2023. Originally...

Superannuation Guarantee Treasury Predicts Wage Cuts Following It’s Increase

Sep 3, 2021 | Accounting

Superannuation guarantee, On Tuesday 1st June the Treasury secretary has announced that 80 percent of future superannuation guarantee increases are predicted to come at the cost of workers wage growth. The Treasury secretary said that as each 0.5 percentage point...

Tax and Cryptocurrency

Sep 1, 2021 | Accounting

As we run through the swing of tax season there is a definite increase in the number of taxpayers investing or holding cryptocurrency. The tax treatment of cryptocurrent has been clearly articulated by the ATO and it’s important to ensure that you understand...

Paying Superannuation Late: Employers Face Massive Penalties

Jul 19, 2021 | Accounting

Paying Superannuation late, contributions that are delayed in respect to the salary and wages for a quarter must be paid by 28 days after the end of the quarter.  Whenever this is not done, even if superannuation contributions were made one day late, the employer...

ATO Announces New Lodgment Support For Tax Agents

Jul 15, 2021 | Accounting, Tax

ATO announces new lodgment support, On Friday 20th August, 2021 the ATO deputy commission Hoa Wood published an open letter to tax agents across the country announcing that practitioners would soon be able to request a deferral for a small number of clients from...