Avoiding common Division 7A errors

Avoiding common Division 7A errors

Private company clients who receive payments, benefits or loans from their private companies need to ensure compliance with their additional tax obligations (which are often referred to as their  ‘Division 7A’ obligations). There are multiple ways in which...
Choosing the right PAYG instalment method

Choosing the right PAYG instalment method

The ATO advises that Pay as you go (‘PAYG’) instalments are calculated using either the instalment amount method or the instalment rate method.   It recently provided the following two case studies to illustrate the two methods: Case...
Lodging of taxable Payments Annual Reports

Lodging of taxable Payments Annual Reports

The ATO reminds taxpayers that it is now time to check if their business needs to lodge a Taxable payments annual report (‘TPAR’) for payments made to contractors providing the following services: (a)     building and construction;  (b)...