With lockdowns and restrictions well and truly in the rear-view mirror for most of the country, the Australian Taxation Office is also bringing back their ordinary compliance activity levels. One of the areas they will be paying close attention to is “asset wash sales”.
The Australian Taxation Office is expecting significant growth in the use of eInvoicing over the next 12 months. There are many benefits to enabling eInvoicing in your accounting software, like faster, simpler and more secure transactions.
Business insolvencies are back to pre-pandemic levels. How so? Because the Australian Taxation Office is now firing out director penalty notices to ramp up debt collection at full speed. We detail what a director penalty notice is, and what needs to be done if you are issued with one.
In the NSW Budget handed down by the NSW State Government, plans were announced to make some transfer duty optional. The scope of the proposal is quite limited at this stage, but if passed, it would become effective from January 2023.
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