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ATO shifting to firmer debt collection activity
The Australian Taxation Office (ATO) has flagged a return to firmer debt collection actions after seeing a trend of profitable businesses that have the capacity to pay their tax debts but are actively choosing not to do so.
Tax exempt organisations required to lodge returns with the ATO
Organisations that previously had the option of self-assessing their income tax exemption status, are reminded that they will soon be required to submit an annual self-review report (a return) to the Australian Taxation Office (ATO).
How can you transition your business to the next generation?
As a business leader, you may be thinking about your retirement, and in that case, who will take over the family business. Thinking about what’s next means looking at the company at an operations, management, and ownership level.
Sexual harassment is a real and present risk for your business – act now
December 2023 sees the introduction of additional powers for the Human Rights Commission (the HRC). The HRC will have new powers to investigate and enforce regulations aimed at proactively eliminating all forms of sexual harassment in the workplace. This represents a significant shift in the regulatory landscape, underlining the urgency and importance of addressing this issue.
Changes to fixed term contracts from 6 December 2023
The term “fixed term” covers all forms of contracts of employment which provide for a limited period of time, either by providing a specific end date, or providing for the contract to end on the occurrence of a specific event. To be considered a fixed-term contract for the purposes of the new provisions of the Fair Work Act, all that is required is that the contract provides in some way for an identifiable period, even if that period is only identifiable at the conclusion of the period.
How to manage your Division 7A loan repayments in the wake of the ATO’s interest hike
From 1 July 2023 the benchmark interest rates for complying Division 7A loans has jumped from 4.77% to 8.27%. Taxpayers should be evaluating the impact of this hike now to ensure that effective tax management is in place prior to 30 June 2024.
Can the Fair Work Act 2009 apply to international remote workers?
In the very recent case of Gautam Parimoo v Lake Resources N.L. [2023] FWC 2543 (4 October 2023) the Fair Work Commission was required to determine if it had jurisdiction to deal with a General Protections application, filed by an Argentina-based Chief Operating Officer, who was a US citizen, and who at all relevant times worked outside of Australia, but was employed by an Australian employer.
Mazars in Melbourne announces relocation to prime CBD location
On 15 November 2023, Mazars in Melbourne will be relocating to a new, central location in the heart of Melbourne's Central Business District (CBD).
Are your assets protected against risk?
If you own assets, are you sure that they have protection against risks? And how confident are you that you're minimising the impact of taxation on your returns?
Queensland Government's general practitioners payroll tax relief announcement
An announcement by the Queensland Treasurer last week has provided a welcome relief for medical practices and a clearer understanding of how payroll tax will be administered in Queensland (Qld) in relation to payments to contracted General Practitioners (GP).