Using the ATO’s small business benchmarks

Using the ATO’s small business benchmarks

The ATO has updated its small business benchmarks for 2021-22.  These benchmarks help taxpayers compare their business turnover and expenses with other small businesses in the same industry. Taxpayers can access the benchmarks on the ATO’s website, and then...
Small Business Concessions

Small Business Concessions

The ATO has recently issued a reminder that small business owners may be eligible for concessions on the amount of tax they ultimately pay.   This depends on their business structure, their industry and their aggregated annual turnover. For example, small business...
In the ATO’s Sights – 2023

In the ATO’s Sights – 2023

‘Side hustles’ A recent ATO article highlights the fact that it is increasingly trying to bring more modern techniques of money-making into its tax net . . . ‘Side hustles’ have really grown over the past few years — everything from the gig economy and...
Start Thinking About Your FBT Obligations

Start Thinking About Your FBT Obligations

The 2023 FBT year ended on 31 March, so it is now time for employers to get ready to lodge their 2023 FBT returns, where they have provided benefits to their employees (or their associates) between 1 April 2022 and 31 March 2023. Time to Start Thinking About Your FBT...