Capitaleyes Latest Accounting News

All too often a small business operates as an ‘island’, not knowing how they are really doing.  These benchmarks allow meaningful comparisons. 
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Since the government’s announced changes to the Stage 3 tax cuts to give lower income earners more benefits, the chorus of voices advocating for changes to other aspects of the tax system, such as negative gearing, has grown steadily stronger.
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Foreign resident capital gains withholding (FRCGW) of 12.5% applies for all property sales of $750,000 or more.
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Recent data shows an increase in the average sick leave days to 13.8 per employee per year.
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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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