The 2021 Federal Budget delivered extensions to tax schemes and apprenticeship/training schemes, while tourism and aviation were big winners. Group Economics overview of the budget The Treasurer wasn’t kidding when he said budget repair has been put on hold until unemployment was below 5%, with
Since the onset of the COVID‑19 pandemic, the Morrison Government has provided $291 billion in direct economic support to keep businesses in business and Australians in jobs. Our economic recovery has beaten even the most optimistic of our expectations with more people in work than ever
The ATO is committed to delivering a better client experience for small business. Helping you to improve your skills and knowledge to be successful in your small business venture is an important part of this commitment. The ATO offers free webinars on a variety of topics.
The ATO offers a range of tools and services to make it easier for you to get your tax and superannuation right. We want to help you manage and grow your business and get back on track if you need to. You can also speak
Businesses with an aggregated turnover of less than $5 billion can immediately deduct the business portion of the cost of eligible new depreciating assets. Corporate tax entities unable to meet the $5 billion turnover test may still be eligible for temporary full expensing under the alternative income
Temporary full expensing and loss carry-back are two JobMaker Plan temporary measures you may be eligible to claim for your business in your 2020-21 tax return. To claim, or opt-out of, temporary full expensing or claim loss carry back you will need to complete additional labels
The Australian Small Business and Family Enterprise Ombudsman Bruce Billson has welcomed the ATO’s decision to turn its small business independent review service into a permanent offering, following a highly successful pilot program. Mr Billson says the ATO’s now permanent independent review service provides small
The Australian Small Business and Family Enterprise Ombudsman Kate Carnell has urged the Australian Taxation Office (ATO) to refrain from returning to heavy-handed tactics, with collection action expected to ramp up as debts owed hit a record high. Ms Carnell says she is concerned small
There are changes to Single Touch Payroll (STP) reporting for small employers with closely held payees and quarterly reporting for micro employers from 1 July 2021. Employers should be reporting through Single Touch Payroll (STP) unless they only have closely held payees, or they are
Small employers (19 or fewer employees) are exempt from reporting closely held payees through Single Touch Payroll (STP) until 30 June 2021. You don’t need to apply for this exemption. From 1 July 2021, closely held payees will need to be reported through STP. You have the option to
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