Small Business

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The Importance of keeping up to date Share records

By | 2019-01-31T12:10:14+00:00 January 31st, 2019|Accounting, Small Business, SMSF, Tax|

The ATO has announced that it will be extending its data matching program to include information relating to share sales.  ASIC will now be providing details on all share transactions (including price, quantity and date) dating back to 2014.  The ATO  previously received information from brokers, share registries and stock exchanges meaning this announcement now [...]

Superannuation Contributions for 2018/2019

By | 2018-08-13T15:31:43+00:00 July 31st, 2018|Accounting, Hospitality, Small Business, Superannuation, Tax|

Superannuation Contributions for 2018/2019 The contributions that a member can make into a superannuation fund will depend on whether those contributions are classified as “concessional” or ”non-concessional contributions”. Concessional contributions refer to contributions made with before tax dollars while non-concessional contributions refer to contributions made with after tax dollars. For example. Employer contributions including salary- [...]

How does the ATO use it’s data-matching system?

By | 2018-08-13T15:25:45+00:00 July 6th, 2018|Accounting, Hospitality, Small Business, Tax|

How does the ATO use it's data-matching system? The ATO uses its data matching services to ensure individuals and businesses are correctly reporting all of their income. The ATO collects data from a wide range of sources including banks, financial institutions and government agencies. The system has been put into place by the ATO to [...]