The Australian Taxation Office’s finalised position on the allocation of profits from professional firms starts on 1 July 2022. The ATO’s guidance uses a series of factors to determine the level of risk associated with profits generated by a professional services firm and how they flow...
The Treasurer has announced that PCR and rapid antigen tests (RAT) will be tax deductible for individuals and exempt from fringe benefits tax (FBT) for employers if purchased for work purposes. There has been confusion over the tax treatment of RAT tests with the Prime...
Cash Injection for Struggling Businesses Businesses struggling with the Omicron wave of the pandemic have been offered new grants and support in NSW, SA and WA. New South Wales The NSW Small Business Support package provides eligible employing businesses with a lump sum payment of 20% of weekly...
What is a DIN? A DIN is a unique 15-digit identifier that a director will apply for once and will keep forever. A director can only have one DIN that they must use for all companies. The purpose of introducing DINs is to prevent the use...