We are seeing a significant crack down by the ATO on late lodgements – including tax returns, BAS and IAS. As tax practitioners we have always tried to look after our clients by seeking extensions for late lodgements where required – and historically these were usually granted. But we have received repeated warnings in the…
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Business reporting and transactions can be done online through the ATO’s Online services for business. It is available for use by: Logging in to Online services to business Home Page Functions (including) Account and Payments Lodgements Employees Menu Used by businesses to manage most employer obligations, including Communication with the ATO Profile Menu Used by…
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A few simple steps can help protect your business over the holiday period and reduce the risk of disruption. Before you sign off for the holidays, take these steps to safeguard your business and client information: Source: ATO
As the end-of-year approaches, now’s a great time to check if you’re still required to be registered for GST. If your circumstances have changed, and your business has grown or reduced in size, you may need to register or cancel your GST registration. Things to check: You can register or cancel your GST registration through Online…
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Resources now available, including a short video for employers and a factsheet explaining changes to SuperStream. From 1 July 2026, employers must pay superannuation guarantee (SG) at the same time as salary and wages. The ATO are asking them to be ready and ensure all SG contributions arrive in their employees’ super funds within 7 business days…
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We know running a small business is serious business and we want to make it as easy as possible for you to get your tax right, the first time. There are a few things you can do to prepare for the end of the financial year, whether you’re lodging yourself or using a tax professional.…
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MarkAccountants can help you manage your cash flow this Workcover season with Insurance Premium Finance which can spread out the payment of your Workcover expenses over the year. Most current outgoings, such as salaries, rent, leases, phone and power are generally paid in manageable instalments. However, when it comes to business insurance and Workcover premiums,…
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The ATO will notify non-compliant small businesses when they are moved from quarterly to monthly GST reporting. The Australian Taxation Office (ATO) has announced that from 1 April 2025, it will be moving around 3,500 small businesses with a history of non-payment, late or non lodgment, or incorrect reporting from quarterly to monthly GST reporting to improve…
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The due date for your October–December business activity statement (BAS) is around the corner. We know small businesses are busy, so we want to help you get your BAS right. Here are some tips to help you before you lodge. Source: ATO
Start the year on the right foot and be ready for these key dates. If you employ staff, here are the important dates and obligations to remember throughout the year, to set yourself up for success. Super Guarantee (SG) Fringe Benefits Tax (FBT) 31 March 2025 marks the end of the 2024–25 FBT year. There are…
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