3rd Quarter 2023

Borrowing money and assets from your private company might seem like a straightforward transaction, but if the loan does not meet certain requirements, you might find yourself paying more tax.

If you have not reported business activity in your tax return, or there are no signs of business activity in other lodgements or third-party information, The Australian Taxation Office (ATO) may cancel your ABN.

HIRING HOLIDAY EMPLOYEES AND CHANGES TO SUPER

If you hire staff on a short-term or occasional basis, you need to be aware of recent changes to super guarantee (SG). The changes mean more of your employees may be eligible for super.

Scammers go to great lengths to look like trusted organisations when they contact you, which can make it tricky to identify real from fake.

But there are always a few details that can give away a scam.