The car limit for the 2027 income year is $69,883. This is the highest value that a taxpayer can use to calculate depreciation on a car where they use the car for work or business purposes (and they first use or lease the car in the...
The ATO is reminding business taxpayers of recent changes they should keep in mind this Tax Time, including the following: From 1 July 2026, Payday Super applies. Employers will need to pay super to an employee's nominated super fund each payday, and it must reach the...
Key BAS, tax & super deadlines — all in one simple guide A new year always brings good intentions — more balance, less stress, and feeling a little more in control. But when it comes to tax, BAS, super and payroll, it’s easy for deadlines to creep...
The ATO is currently focusing on the following 'specific risk areas', where it is concerned "small businesses are getting it wrong": - Contractors omitting income — with a focus on data matching to ensure all income is reported. -Quarterly to monthly BAS reporting for GST purposes —...
The ATO advises new business owners that they need to understand their obligations to ensure they are "getting it right from the start." These are the 'top 7 things' taxpayers need to know when starting a business. They should use digital tools and maintain accurate records to...
The ATO is reminding taxpayers that it is important to lodge BASs and pay in full and on time to avoid penalties and interest charges. The BAS for the second quarter of 2024/25 is due on 28 February 2025 when it is lodged through us, your...