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It was reported in an article written by Katie Walsh in The Australian Financial Review on the 24thof March that: “The Australian Taxation Office has started notifying small businesses targeted by its campaign to clamp down on tax losses. The … Continue reading
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The Commissioner of Taxation can now recover debts through the issuing of a Garnishee Notice. A Garnishee Notice allows the ATO to collect outstanding tax debts by taking money from a third party e.g. bank through the company’s bank account, … Continue reading
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Many have heard about it, but nobody really knows what it is: a Director Penalty Notice (DPN)? A Director Penalty Notice (DPN) is one of the most important notices a director of a company can receive from the ATO. The … Continue reading
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A business hole is usually pretty obvious once you realise you are there. Creditors have stopped supply or you are constantly negotiating with them for stock and services, it’s a strain to pay staff their net wage and you have … Continue reading
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Among the 10 things I hate most in life are going shopping with a female who is buying clothes for themselves or clothes shopping for me. These two come just above having my fingernails pulled out without anaesthetics. But I … Continue reading
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Every day business owners contact me and tell me they have a cash flow problem. What they’re actually telling me is they just don’t have any money today. Unfortunately many business owners believe that they simply need cash to solve … Continue reading
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A promise by the Labor Government to raise compulsory super payments another 3% will no doubt help the financial service industry groups but add more burden on small businesses. Anthony Sibillin has written in The BRW that “The extra contribution … Continue reading
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In an article published in the Australian Financial Review on 13th October titled ‘Labor’s contractor tax pledge’ John Kehoe reports, “Assistant Treasurer Bill Shorten has assured small business operators that the federal government will not change tax rules for independent … Continue reading
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Under pressure from the new administration, the Australian Taxation Office has begun to rein in the mountain of debt and help the federal government to haul in what was left outstanding after they had the accelerator off during the GEC. … Continue reading
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“Am I going to Jail?” “Can this be fixed?” “I am too scared to open my mail” “I don’t answer my phone anymore” “I have been burying my head in the sand” These are the common comments I hear from … Continue reading
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