TaxWise Business News - June 2024June 14, 2024Year end tax tips. We are getting near the end of the tax year (30 June), so you might want to consider ways to reduce your business’ tax bill. Read more
Proposed Temporary Increase to the Instant Asset Write-OffJune 7, 2024The Government announced in last year's Budget that it would temporarily set the instant asset write-off threshold for small business entities at (less than) $20,000 for the 2024 income year, and it recently announced, as part of the 2024/25 Budget, that this temporary threshold would be extended to the 2025 income year. Read more
TaxWise Business News - April 2024April 23, 2024Now is a good time to check that your business’ PAYG instalments still reflect the expected end-of-year tax liability. If your business’ circumstances have changed and you think you will pay too much (or too little) in instalments for the year, the instalments can be varied on the next activity statement Read more
TaxWise Business News - Feb24March 4, 2024What has the Government been up to? It is only February, yet we have already seen a significant tax development that will affect the majority of Australians — the Government’s decision to ‘redesign’ the Stage 3 income tax cuts. Read more
TaxWise Business News - November 2023November 7, 2023For more than 20 years, small business entities have been able to immediately write-off the full cost of depreciating assets so long as the cost of the asset is less than the relevant threshold. Read more
TaxWise Business NewsSeptember 6, 2023September 2023 Business News. Tax changes from 1 July 2023. Read more
TaxWise Business NewsJune 6, 2023Year End Tax Tips - We are getting near the end of the tax year (30 June). So you might want to consider ways to ensure your business and tax affairs are in order in readiness for year end. Read more
TaxWise April 2023 Business NewsApril 4, 2023From the ATO, FBT Issues, Tax Tips, What's New? and much more Read more
Tax Wise Business News From The ATOFebruary 1, 2023January is traditionally a quiet time for many businesses, but the ATO hasn’t stopped publishing useful information. Read more
The ABRS Extends Director Identification Number (DIN) Deadline by 2 WeeksNovember 30, 2022The business registrar has extended the director ID application deadline by two weeks, from November 30 to December 14. Read more
THE UPDATED FEDERAL BUDGET 2022–23November 2, 2022The Treasurer, the Hon Dr Jim Chalmers MP, handed down his (and the Albanese Government’s) first Budget on 25 October 2022. There were few tax measures in the Budget. What measures there were mostly affect multinationals. You can read about the tax measures further below. Read more
Business NewsAugust 2, 2022In case you are wondering what the incoming Labor Government said about tax during the election campaign, the brief answer is very little. Unlike at the 2019 election, Labor has not proposed any significant tax policies – unless you are a multinational. Labor has proposed to ‘close tax loopholes exploited by multinational companies’. Read more
Business NewsApril 12, 2022If your business was affected by the recent floods in NSW and Queensland, you may receive a recovery payment from a local, state or federal government agency. The ATO website advises that the income tax treatment of these support payments... Read more
Business NewsFebruary 14, 2022Welcome to 2022! January is traditionally a quiet time for many businesses, but the ATO hasn’t stopped providing useful information to help small business owners and workers navigate what is sure to be another busy year. Read more
Business NewsNovember 15, 2021Director identification number: A unique way to i-DIN-tify yourself
You may have heard or read about the new Director identification number (commonly referred to as DIN or Director ID – these terms seem to be quite interchangeable!). So, what exactly is a DIN or Director ID, who needs one and when are you required to apply? Read more
Business NewsSeptember 13, 2021Summary of State and Territory 2021 COVID-19 financial support measuxres available to businesses

Since the onset of the COVID‑19 pandemic, the Federal Government has been working with States and Territories to provide financial assistance to businesses affected by lockdowns and restrictions in COVID‑19 hotspots. Read more
Business NewsJune 17, 2021 Helping businesses recover
Tax depreciation incentives to help businesses recover
In 2020, the Government introduced tax depreciation incentives to help businesses recover from the impact of the COVID-19 pandemic.
Read more
Business NewsJune 15, 2021ATO warns on ‘copy/pasting’ claims

The ATO is alerting taxpayers that its sights are set on work-related expenses like car and travel claims that are predicted to decrease in this year’s tax returns.

Read more
Business NewsApril 14, 2021

COVID-19 measures: how your business might be affected
JobKeeper scheme

The JobKeeper scheme ended on 28 March 2021. Your business does not have to do anything, but it will need to complete the March monthly business declaration by 14 April 2021. The final payment will be processed in April.

Read more
Business NewsFebruary 10, 2021COVID-19 measures
JobMaker hiring credit

The JobMaker Hiring Credit scheme (“JobMaker”) is a new government incentive in response to the COVID-19 economic crisis. Eligible employers can access JobMaker for each eligible additional employee aged 16 to 35 they hire between 7 October 2020 and 6 October 2021. The program will last for 2 years until 6 October 2022.
Read more

Business NewsNovember 9, 2020Budget measures now law
A number of measures announced in the Federal Budget 2020–21– and which we reported in the special Budget edition of TaxWise News – are now law Read more
Business NewsSeptember 6, 2020Changes to JobKeeper
The JobKeeper scheme was discussed in the June 2020 edition of TaxWise News. Since then, the Government has announced a number of changes. Read more
Business NewsAugust 13, 2020The Government is extending the JobKeeper Payment by a further six months to March 2021. Support will be targeted to businesses and not-for-profits that continue to be significantly impacted by the Coronavirus.  The payment rate will be reduced and a lower payment rate will be introduced for those who work fewer hours. Other eligibility rules remain unchanged. Read more
Business NewsJune 9, 2020The JobKeeper scheme is the most significant measure to assist businesses during the COVID-19 crisis – even if it is going to cost a lot less than initially thought. Although we told you about the scheme in the Special April Edition of the Business TaxWise, there have been a few changes and clarifications – so it seems a good idea to remind you of some of the key points of the scheme. Read more
Business NewsApril 6, 2020This special edition of TaxWise Business contains information about government and ATO measures in response to the Coronavirus (COVID-19) crisis. But we have also taken the opportunity to tell you about the super guarantee amnesty. Read more
Business NewsMarch 18, 2020Bushfire Tax Assistance legislation becomes law

The government has passed legislation* to make disaster relief payments being made to individuals and businesses impacted by the devastating bushfires effectively tax exempt. (*) The Treasury Laws Amendment (201 Read more
Business NewsFebruary 5, 2020The ATO has announced various measures to help businesses and individuals in local government areas impacted by the bushfires. These include: automatic deferrals for lodgement of income tax, SMSF, FBT and excise returns and activity statements, and their associated payments, until 28 May 2020 (so there is no need to apply for a deferral); automatic priority for any refunds due; Read more
Business NewsDecember 15, 2019The Government has reintroduced legislation to establish a one-off amnesty for historical underpayment of superannuation guarantee ('SG'). Read more
Business NewsNovember 12, 2019On 17 October 2019, Second Commissioner, Andrew Mills, addressed the Tax Institute’s 2019 Tasmanian State Convention outlining what the ATO is doing to help support small businesses manage their competing demands. Read more
Business NewsSeptember 2, 2019This edition of TaxWise outlines some tax changes for 2018-19 that should be considered by small businesses when preparing tax returns for 2018-19. There are also some tax tips and lodgment dates that businesses may find helpful when preparing returns. Focus areas that the ATO will be looking at have also been listed. Read more
Coalition’s tax policies: How do these impact on businesses?June 22, 2019The Federal Election has come and gone. The Coalition has won and will be the next Federal Government. Read more
Business NewsFebruary 18, 2019

Focus on small business

What the ATO is seeing in the small business market

On 2 November 2018, the Deputy Commissioner of Small Business, Deborah Jenkins, delivered a keynote address at a conference run by a national accounting body outlining the main tax issues the ATO is seeing in small businesses. Read more

Business NewsNovember 19, 2018

Borrowing from your business? Find out how you might be triggering the Division 7A rules

Are you a shareholder or associate of a private company?

Does your company have a distributable surplus at the end of the income year?

Do you borrow or use business assets for your personal use and enjoyment?

If you answered yes to any of these questions, then the legislative provisions of Division 7A of the Income Tax Assessment Act 1936 could potentially affect you.

Read more
Business NewsSeptember 15, 2018

It’s tax time 2018! What you need to know about the key changes

It’s that time of year again – tax return time!

Before you complete your tax return for 2018, here are some key dates, changes and information that you should be aware of in case they affect you.

Read more
Business NewsJune 4, 20184 Federal Budget tax measures that impact your business

Small and medium sized businesses received a bit of attention from the Government in this year’s 2018-19 Budget.

Read more
Business NewsFebruary 6, 2018

The small business $20,000 instant asset write-off extended… time to go shopping!

The small business write-off threshold of $20,000 has been extended to 30 June 2018 and is available to all small businesses with an aggregated turnover of less than $10 million. After 30 June this year, the threshold will reduce to $1,000.

Read more
Business NewsNovember 13, 2017IN THIS ISSUE

  • New rules for accessing the 27.5% corporate tax rate from 1 July 2017
  • When does a company carry on a business? ATO releases guidance
  • Small business tax concessions at a glance
  • Deductions for small business
  • Safe harbour reforms for company directors
  • Tax consequences of trust splitting
Read more
Business NewsSeptember 1, 2017


  • It’s Tax Time 2017! What you need to know about the key changes
  • What’s new for small businesses
  • Taking care of business
  • ATO protecting honest business
  • ATO
Read more
Business NewsJune 13, 2017


  • The end of the financial year is coming!
  • 2017-18 Federal Budget small business measures
  • 2017-18 Federal Budget GST measures
  • Tax integrity in the Black Economy
Read more
Business NewsMay 18, 2017IN THIS ISSUE
  • Housing affordability measures
  • Individuals
  • Small business
  • Superannuation
Read more
Business NewsFebruary 6, 2017


  • Credit and debit card debt, online selling and ride sourcing data matching
  • Simpler reporting with Single Touch Payroll
  • ‘Black Economy’ Taskforce
  • Targeted amendments to Division 7A
Read more
Business NewsNovember 1, 2016
  • Your small business may be entitled to a lower tax rate
  • Single Touch Payroll
  • 2016 PAYG withholding schedules
  • Reminder: GST cross-border changes started 1 October 2016
  • Superannuation reform packages
  • Read more
Business NewsAugust 31, 2016In this issue
  • It’s Tax Time 2016! What you need to know about the key changes
  • Simplified depreciation rules for your small business clients
  • New tax rules for property sales over $2 million
  • Division 7A
  • Tax implications for the sharing economy
  • Changes to CGT treatment for certain earnout rights
Read more
Business NewsMay 29, 2016In this issue
  • The end of the financial year is coming!
  • 2016-17 Federal Budget small business measures
  • Reduction in the company tax rate
  • National Innovation and Science Agenda measures expanded
  • 2016-17 Federal Budget changes to GST and other indirect taxes
Read more
Business NewsMay 12, 2016In this issue
  • The 2016-17 Federal Budget
  • Budget measures affecting individuals and families
  • Small business measures
  • Changes to superannuation
  • Changes to GST and other indirect taxes
  • Changes to tax administration
  • Large business and international tax measures
Read more
Business NewsFebruary 2, 2016In this issue
  • Small business fix-it squads
  • Work-related car expenses, third party reporting and other measures – amendments now law
  • FBT updates
  • GST
  • Accessing business profits through an interposed partnership with a private company partner - TA 2015/4
Read more
Business BulletinNovember 2, 2015In this issue
  • More small business tax measures are now law
  • Small business tax measures – regulatory costs
  • Work-related car expenses, third party reporting and other measures - amending Bill introduced
  • Wine Equalisation Tax rebate – possible changes
  • GST determinations
Read more
Business BulletinAugust 31, 2015In this issue
  • Small Business Budget measures now law
  • More small business Budget measures
  • Employee share schemes – proposed changes are now law
  • ATO trusts letter campaign for SMSF clients
  • ATO focus on rental property deductions
Read more
Business BulletinJuly 1, 2015In this issue
  • The end of the financial year is near
  • 2015-16 Federal Budget Small Business Package
  • Measures encouraging new businesses
  • Single Touch Payroll
  • Fringe Benefits Tax
Read more
Business BulletinFebruary 14, 2015In this issue
  • Removing tax impediments to certain business structures
  • Dabbling in Bitcoin? What’s the ‘tax’ story?
  • Employee Share Scheme changes
  • GST treatment of ATM service fees, credit card and debit card surcharges - GSTR 2014/2
  • What’s the ATO’s view of GST and crowd funding?
Read more
Business BulletinNovember 9, 2014In this issue
  • Repeal of measures affecting small businesses that were to be funded by the mining tax
  • Employee share scheme changes
  • Revised Superannuation guarantee charge percentages
  • Now is the time to prepare for SuperStream
  • Do you have an FBT lodgement obligation?
Read more
Business BulletinSeptember 12, 2014In this issue
  • Repeal of measures affecting businesses that were to be funded by the MRRT
  • Have you relied on tax measures that are not going to become law?
  • Do you properly characterise receipts from property development in your trust?
  • Farm Management Deposits
  • Effective life of depreciating assets from 1 July 2014 - TR 2014/4
Read more
Business BulletinFebruary 9, 2014In this issue
  • Announced un-enacted Measures
  • MRRT and Carbon Tax repeals and associated changes
  • Getting the company loss carry-back tax offset right
  • ATO contacting businesses about taxable payments annual reports
  • Working on an upcoming property transaction? Check the vendor’s GST details
Read more
Business BulletinNovember 4, 2013In this issue
  • Post-election 2013 – State of Play
  • Income tax – changes
  • Combatting “Dividend Washing”
  • Adjustment notes for GST
  • Payments of refunds of overpaid GST
Read more
Business BulletinSeptember 10, 2013In this issue
  • Election 2013
  • ATO Compliance Focus
  • Information for Businesses and Contractors in the Building and Construction Industry
  • Combatting “dividend washing”
  • Annual Pay As You Go (PAYG) Instalments
Read more
Business BulletinJune 5, 2013In this issue
  • The end of the financial year is coming!
  • Small business tax concessions and scrip for scrip roll-over strengthened
  • Company loss carry-back
  • Rules against Tax Avoidance
  • Capital allowances – other machinery and equipment repair and maintenance assets
Read more
Business BulletinFebruary 14, 2013In this issue
  • Change of Tax Commissioner
  • 2013 Federal Election
  • Restructuring your business – removing income tax impediments
  • Cutting the company tax rate – no conclusion
  • Rules against Tax Avoidance
Read more
Business BulletinNovember 19, 2012In this issue
  • Individual Income Tax Rates – Withholding Obligations
  • Living Away From Home Allowance
  • Company Loss Carry-Back Measure
  • Refunding Excess GST
  • Tax and GST Compliance for SMEs
Read more
Business BulletinSeptember 7, 2012In this issue
  • Tax Time 2012 – ATO Compliance Program;
  • Loss Carry-Back for Small Business;
  • Living-Away-From-Home Allowance Changes;
  • Superannuation Changes;
  • Anti-Avoidance Provisions in flux;
Read more
Business BulletinJune 2, 2012In this issue
  • 30 June is around the corner
  • Tax Changes affecting Small businesses
  • CGT Changes
  • Changes to the timing of Trust resolutions
  • Living-Away-From-Home Allowance changes
Read more
Business BulletinFebruary 1, 2012In this issue
  • Superannuation Changes
  • Various changes announced in Mid-Year Economic and Fiscal Outlook 2011-12
  • Changes to the taxation treatment of the living-away-from-home allowance
  • Changes to the income tax law affecting consolidated groups
Read more
Business BulletinNovember 1, 2011In this issue:
  • Taxing carbon
  • GST financial supply rules to be simplified
  • Roy Morgan and the Superannuation Guarantee Charge
  • Dealings in incorporated professional practices
  • Reporting taxable payments for building and construction industry contractors
Read more
Business BulletinSeptember 1, 2011In this issue:
  • ATO compliance program 2011/12:
    target areas
  • Taxing carbon
  • Managing tax debts
  • Proposed not-for-profit reforms
  • Car fringe benefits rules changed
Read more
Business BulletinAugust 1, 2011Taxation of trusts: Update

The tax laws have been changed to address a number of uncertainties and longstanding problems with the taxation of trusts, enabling the streaming of capital gains and franked distributions to beneficiaries for tax purposes, as well as introducing targeted anti-avoidance rules.

Read more
Business BulletinJuly 1, 2011 In This Issue
  • Year-end planning
  • Factors to consider from a business perspective
  • Estate planning
Read more
Business BulletinNovember 1, 2010In This issue
  • Unpaid present entitlements – final practice statement released
  • Research & Development Bill
  • Taxation of Earnouts
  • Primary production trusts
  • Superannuation
Read more
Business BulletinJune 1, 2010In this issue
Federal Budget round-up for business
Henry Report Read more
Business BulletinFebruary 1, 2010In this issue
  • ATO attack on trusts and unpaid present entitlements continues
  • Lifestyle assets and Division 7A
  • Tax Agent Services Regime
  • FBT time again
Read more
Business BulletinNovember 1, 2009In This Issue
  • Trusts and unpaid present entitlements
  • Corporate losses – can I use them?
  • Employee share schemes – will I be able to defer my taxing point?
  • ATO Change Program – the ATO shut down
  • Paid Parental Leave – impact on employers
Read more
Business BulletinFebruary 1, 2009In This Issue
  • Tax strategies for tough times
  • PAYG instalment relief
  • Investment allowance boost
  • Keeping on top of FBT
  • Super changes impacting SMSFs
Read more