2016 Business Tax Planning Strategies

2016 Business Tax Planning Strategies

The end of the 2015/16 financial year is near, so now’s the time to review what strategies you can use to minimise your tax: 1: Concessional Superannuation Cap The concessional superannuation cap for 2016 is $30,000 per year for persons under 49 as at 30/6/15, and $35,000 for persons age 49 to 75. Do not […]

Key Lodgement Dates

The lodgement program 2014-15 This includes details of most of your lodgement obligations including: income tax returns monthly and quarterly activity statements fringe benefits tax (FBT) returns and pay as you go (PAYG) withholding annual reports annual goods and services tax (GST) returns and information reports annual and quarterly instalment notices a range of superannuation […]

ATO hunting tax evaders on lack of compliance

Recent revelations have revealed that the ATO is no longer willing to tolerate supporting struggling businesses through financing business operations by way of unpaid tax and superannuation obligations. In fact, individuals who have been late in lodging their tax returns are being personally targeted by the ATO and as a result will face harsher penalties […]