June 2021 Newsletter
The Changing Face of Small Business
Small businesses are naturally evolving, and with the impacts of the past 12 months, many businesses have adapted and reassessed the way they work – focusing on the areas that really matter to the success of their business...
Are you ready for Tax Time 2021?
Tax time 2021 is almost here, but it’s likely to be anything but routine. Many people on reduced incomes or who have increased deductions may be eager to lodge their income tax returns early to get their hands on a refund...
ATO data-matching targets rental property owners
The ATO has announced it will run a new data-matching program to collect property management data for the 2018–2019 to 2022–2023 financial years, and will extend the existing rental bond data-matching program through to 30 June 2023...
ATOs discretion to retain refunds extends to income tax
As a part of a suite of measures introduced by the government to combat phoenixing activities, the ATO now has the power to retain an income tax refund where a taxpayer (including both businesses and individuals) has outstanding notifications...
2021 FBT returns are due
If your business has provided fringe benefits to your employees, you should be aware that the 2021 FBT return (for the period 1 April 2020 to 31 March 2021) is due, and payment of any associated FBT liability is required immediately...
Beware: phishing and investment scams on the rise
The ATO and Services Australia have issued a warning about a new email phishing scam doing the rounds. The emails claim to be from “myGov” and include screenshots of the myGovID app...