Capitaleyes Latest Accounting News

The ATO is targeting unlawful tax and super scheme promoters, citing “serious” penalties and reputational risk.
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Do the sums for your circumstances
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In May and June, we will add two articles to our website that help you plan and take action before the end of the 2023-24 financial year.  Both Part 1 and 2 will cover the following, though Part I focuses on key strategies to manage your tax bill.  All are worth dedicating time to review and think about how your business can organize your affairs in these ways.
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Consumers remain deeply pessimistic about the near-term outlook for the economy despite signs of improvement last month, says the major bank.
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The following is a list the ATO has compiled that is tailored to occupations and industries.
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Terminating an underperforming employee requires caution. Employers must follow fair procedures to avoid legal issues such as unfair dismissal claims.
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The ATO has developed quite a number of benchmarks to help small businesses develop an idea of their performance compared to similar businesses in the same industry.
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New guidance has been released on best practice principles for debt notifications in response to the re-activation of old debts by the ATO.
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Individuals participating in the sharing economy should be aware that transactions for supplying taxi travel/ride sourcing and short-term accommodation are now required to be reported under the sharing economy reporting regime (SERR).
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The task of worker classification has been a long-running point of contention but the Commissioner’s response to recent court cases suggests a written contract is king.
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The ATO has flagged a return to more aggressive debt collection actions after seeing a trend of profitable businesses that have the capacity to pay their tax debts but are actively choosing not to do so.
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Every business owner wants to grow their business and their profits. 
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