Your practice

Relevant and practical knowledge and tools to build your business

It’s not just taxpaying clients on thin ice over dodgy claims

In the ATO’s most recent tax professional webcast, a viewer posed the statement: “Agents lodging incorrect claims should be weeded out.” In response, one of the panel, Assistant Commissioner Kath Anderson, agreed that it is in everybody’s best interests to have a level playing field, but added, referring to practitioners, not their clients: “We need

[ Read More ]

Common client mistake on GST – ATO warning

Tax professionals have been reminded by the ATO of a misconception that some taxpayers continue to make each income year regarding their eligibility to make claims for GST credits. The reminder, issued in the middle of the third quarter of the 2017-18 income year, seeks to enlist the help of tax agents at more of

[ Read More ]

The ATO’s first webcast for 2018, next Monday

Over last calendar year, the ATO found a high demand for its “Tax professional conversations”, a series of webcasts. These were hosted by assistant commissioner Colin Walker, and were usually co-hosted by a panel made up of members of professional associations, tax agents, BAS agents, digital service providers (software developers) and senior ATO staff. The

[ Read More ]

Heard of the Notifiable Data Breaches scheme? If not, you soon will

Heard of the Notifiable Data Breaches scheme? The passage of the Privacy Amendment (Notifiable Data Breaches) Act 2017 established the Notifiable Data Breaches (NDB) scheme in Australia. The NDB scheme applies to all agencies and organisations with existing personal information security obligations under the Australian Privacy Act 1988, and is set to take effect from

[ Read More ]

If your client’s business loan is knocked back, what can they do?

Despite their best efforts, business owners can still be denied finance when applying for a loan from a bank or other financial institutions. And while a loan refusal can be disappointing, and potentially set back business plans, it can also be an opportunity for a business owner to investigate their business finances and make any

[ Read More ]