by C&N Accountants | Sep 17, 2024 | ATO, Cyber Security
Picture this: You log into your myGov account and find that your activity statements for the past year have been altered, with $100k in GST credits issued. But you didn’t do this and certainly didn’t receive $100k in your bank account. The urgency of the situation...
by C&N Accountants | Sep 5, 2024 | ATO
Do you own an investment property or perhaps a luxury asset like a boat or aircraft? The ATO is examining your tax return to ensure that what you declare adds up. The Australian Taxation Office (ATO) has introduced two crucial data-matching programs targeted at...
by C&N Accountants | Aug 12, 2024 | ATO
Imagine receiving over $1.6 million in your bank account and thinking it’s a generous gift. But what happens when the Tax Commissioner decides it’s actually income, and you’re suddenly facing a hefty tax bill? That’s exactly what happened in the intriguing case of...
by C&N Accountants | May 23, 2024 | ATO, Business, Small Business, Tax Audit
The ATO is tightening its grip on business owners who dip into company funds or use company resources for personal purposes. It’s not uncommon for business owners to blur the lines between their personal lives and their business, using company resources as if...
by C&N Accountants | Feb 26, 2024 | ATO, Business, Company Directors, Division 7A Loans, Small Business
Entrepreneurial ventures often commence with the business owner’s financial investment to fuel initial growth and operational stability. A recent legal proceeding underscores the necessity of navigating the complexities of tax legislation when managing company...
by C&N Accountants | Jan 29, 2024 | ATO, Income Tax, Tax & Accounting, Tax Planning, Tax Refunds
The Federal Government has recently announced a realignment of the personal income tax cuts, initially legislated to commence on 1 July 2024. This realignment is part of a new proposal that seeks to redistribute the tax cuts more effectively. Overview of the Amended...
