business tax

Fending Off GST Audits

The Government has welcomed the actions of an ATO-led taskforce in relation to what is termed “the biggest GST fraud in Australia’s history”. The ATO states that the fraud was first detected in early 2022 and involved offenders inventing fake businesses and ABN applications, then submitting fictitious Business Activity Statements in an attempt to gain […]

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Christmas Gifts From Employers

Unwanted tax this festive season Christmas is traditionally a time of giving, including employers showing gratitude to their workers for a job well done throughout the year. However, depending on the nature and value of the gift and also who it is gifted to, such magnanimity can attract unwanted tax consequences. So how, as an

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Claiming Business Losses

Offset your business loss You may be able to offset your business loss against other income (such as salary and wages) if you’re a sole trader or in a partnership. Firstly, however, your loss must not be non-commercial. A non-commercial business loss is a loss you incur, either as a sole trader or in partnership,

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