Capitaleyes Latest Accounting News

The ATO is currently focusing on ensuring that taxpayers are aware of their obligations regarding treatment of withholding amounts and amount paid to foreign residents.
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A levy on short-stay accommodation bookings will apply from next year after being passed by the Victorian parliament.
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The ATO has recently confirmed some key focus areas of business debt collection – including debts relating to superannuation guarantee (SG), pay as you go (PAYG) withholding and GST.
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Cyber security is everyone’s business. With cyber threats becoming more frequent and complex now is the time to make sure your business is secure.
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The Tax Office has revealed that 250,000 tip-offs have been received about tax avoidance and dishonest behaviours since July 2019.
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If you’re an Australian resident for tax purposes, you don’t have to pay income tax on the first $18,200 you earn each year, from any source. This is called the “tax-free threshold”.
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Clients failing to engage must “act now” or face rapid escalation of enforcement action, the Tax Office has warned agents.
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The seven-day payment window and closure of the ATO’s clearing house are expected to disproportionately impact smaller employers.
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It’s estimated we spend a third of our life at work. It may even be more if you run your own small business. From working overtime during the week to catching up on paperwork on the weekend, having enough time to get everything done is a challenge for most small businesses.
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The government has released further details about the design of its payday super policy including an updated super guarantee charge framework. 
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The draft legislation aims to modernise the luxury car tax by tightening the definition of a fuel-efficient vehicle and adjusting the indexation rate.
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If you manage a self-managed superannuation fund (SMSF), recent changes to tax rules for certain fund expenses may affect you and the fund.
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