ATO’s new focus for small business The ATO is currently focusing on the following ‘specific risk areas’, where it is concerned “small businesses are getting it wrong”: Contractors omitting income — with a focus on data matching to ensure all income is reported. Quarterly to monthly BAS reporting for GST purposes — The ATO will move around 3,500 small businesses with a history of non-compliance to monthly reporting from 1…  Read more

2023/24 Budget Update On 9 May 2023, Treasurer Jim Chalmers handed down the 2023/24 Federal Budget. Some of the measures announced by the Government (including some which were actually announced prior to the Budget), include:       from 1 July 2026, employers will be required to pay their employees’ superannuation at the same time as their salary and wages;       providing businesses with annual turnover of less…  Read more