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Relevant and practical knowledge and tools to build your business

Inspector-General’s audit of employer obligations

The Inspector-General of Taxation (IGT) Ali Noroozi has recently released his report into the ATO’s employer obligations audits. Conducted over more than a year, the IGT also took on board submissions from stakeholders and representative bodies (including Tax & Super Australia — see our submission on this page). A key concern has been the classification

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Land owned before CGT, but can a recent house built on it be CGT-free?

Naturally, a taxpayer will assume that when they build a house, that building will not qualify for CGT exemption until it becomes that taxpayer’s “main residence”. There is however a section of the regulations that allows that taxpayer to extend the period of the main residence exemption so that this is initiated during the period

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Have you heard of Manage ABN Connections? If not, you soon will

Manage ABN Connections is a new way for business to access government online services using their myGov login. It can be used from mobile devices, but does not provide additional services to business nor change the levels of access. Have you heard of Manage ABN Connections? It is a new secure login alternative to AUSkey

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The ATO is focusing on your cash-only clients

The ATO has announced that it is intending to visit businesses around Australia that appear to be trading as, or advertise as, cash-only operations. It says that such businesses are obvious inclusions in its focus on the cash economy. The ATO is focusing on your cash-only clients “Some may be your clients,” the ATO says.

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Taken goods for private use? Here’s the latest values

Taken goods for private use? Here’s the latest values. The ATO knows that many business owners naturally help themselves to their trading stock and use it for their own purposes. Taken goods for private use? Here’s the latest values This common practice can occur in businesses such as butchers, bakers, corner stores, cafes and more.

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