ATO Tax Professionals RSS Feed

    7 hours ago

    MCA Accountants

    Asset Protection Tip: Know your liabilities - contractors - Sometimes asset protection is more than fancy structures - it can be as simple as knowing where your risks lie. The biggest overlooked risk we find is with contractors and employees. Just because you get an ABN, doesn't mean you aren't liable for PAYGW, super, workcover etc. We've seen these "hidden" liabilities ruin businesses - don't let it happen to you ... See MoreSee Less

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    8 hours ago

    MCA Accountants

    The ATO have extensive data matching capabilities - such as share dividends and sales, property purchases and sales, wages, contract income, PayPal, AirBnB, car and boat registrations, and the list goes on

    The ATO are working on having as much visibility over everyone's income position as possible to help them catch those the rort the system. Cash is the next frontier - and also the toughest
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    1 day ago

    MCA Accountants

    Tax Tip: Extra Time to Lodge BAS - If you use a digital method of lodging your BAS (myGov, business portal, SBR software), then you may be entitled to extra time for lodgment and payment. A 4 week extension applies to BAS's lodged via a tax agent (such as ourselves), which is always an option for businesses We note that the December BAS doesn't get this extension because the ATO gives everyone an extra 4 weeks to lodge due to Christmas ... See MoreSee Less

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    1 day ago

    MCA Accountants

    Have you loaned your business money? Consider making this a secured loan so that in the unfortunately event of insolvency or bankruptcy, your loan will rank ahead of unsecured creditors. The cost is minor considering the possible losses you can face. ... See MoreSee Less

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    2 days ago

    MCA Accountants

    Single Touch Payroll is the ATO's new reporting system for wages. Every time you pay staff, you need to report. Find out more at bit.ly/2KEGFE8 ... See MoreSee Less

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