Company tax reduction franking implications

The recent cut to the tax rate for incorporated businesses that turnover less than $50 million a year, while generally welcomed, can bring with it some important considerations when it comes to distributing franked dividends. The rate change to 27.5% is to be staggered, starting with companies that turnover up to $10 million a year,

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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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The ATO’s law companion guidelines on super changes

Ever since the ATO made its announcements about changes to the rules surrounding self-managed superannuation funds (SMSFs), not only trustees but the practitioners advising them have been very keen to get their hands on clear guidance and advice. The ATO has now come to the party, and has issued finalised law companion guidelines (LCGs). There

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