Tax

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ATO watchman flags review of audit “risk engines”

8:30PM | Monday, 20 August 2012 | Michelle Hammond

Small businesses have been urged to keep on top of their tax record keeping, after the Inspector-General of Taxation raised concerns about the way taxpayers are selected for audits.

Directors still bear burden of proof in tax liability laws after new draft of bill

8:33PM | Thursday, 16 August 2012 | Patrick Stafford

Company directors are being advised to pay tax debts sooner rather than later.

Tax incentives under spotlight in company tax rate review

8:29PM | Monday, 13 August 2012 | Michelle Hammond

Cutting the company tax rate to 25% would cost the Federal Budget $26 billion in revenue over four years, according to the Business Tax Working Group, which today released a discussion paper.

Start-ups warned over ponderous R&D refunds

8:21PM | Monday, 13 August 2012 | Michelle Hammond

An expert has issued a warning to start-ups relying on R&D claims as a form of cashflow, amid reports of lengthy payment times, saying it all comes down to responsible money management.

Travelling IT contractors warned over ATO scrutiny

8:00AM | Wednesday, 8 August 2012 | Michelle Hammond

A tax expert has issued a warning to “on call” home-based IT professionals, after the Australian Taxation Office confirmed it will place greater scrutiny on claims made by IT workers.

Start-ups urged to be wary of tax-free threshold “trap”

8:59PM | Monday, 6 August 2012 | Michelle Hammond

Entrepreneurs who operate a business part-time could be hit by changes to the tax-free threshold, with an expert warning anyone with more than one income source could be caught in a tax trap.

What’s your business worth?

8:10PM | Wednesday, 1 August 2012 | Greg Hayes

Keeping in mind the potential value of your business will help you stay on track to building a business that can be sold for a good price. BY GREG HAYES.

How do you keep the taxman at bay if you run a cash business?

7:00PM | Thursday, 26 July 2012 | Brad Callaughan

The ATO looks for businesses operating outside sector averages. If you order $100,000 worth of goods and only record $10,000 in sales, expect the taxman to ask questions.

Data underlines Australia's two-speed economy

7:40PM | Monday, 23 July 2012 | James Thomson

Western Australia's mineral riches are keeping it ahead of the pack.

ATO highlights focus areas for 2012/13: Sham contracting high on its list

7:36PM | Thursday, 19 July 2012 | Michelle Hammond

The Australian Taxation Office has released its 2012/13 compliance program, with information for individuals and micro enterprises, prompting another warning about sham contracting.

Five key ways to reduce your business’ energy bills

7:12PM | Thursday, 12 July 2012 | Oliver Milman

The carbon tax is here, along with the opportunity to slash your tax bill by becoming more energy efficient. Here are five great ways to slash your energy bills, along with your carbon footprint. BY OLIVER MILMAN.

"Let the carbon tax take the blame": Brumby's busted blaming price rises on carbon tax

7:48PM | Wednesday, 4 July 2012 | Patrick Stafford

Bakery franchise Brumby’s has been caught red-handed attempting to blame price rises on the carbon tax, after a letter sent by the company to franchisees was leaked.

Welcome to the new financial year – here’s 10 things that have changed

6:16PM | Friday, 29 June 2012 | Oliver Milman

Getting your head around all the new financial year legal changes can be a struggle. To make it easier for you, we’ve compiled the 10 biggest changes you must know about this year. BY OLIVER MILMAN.

Australia’s low-tax economy highlights a “double-edged sword”, expert says

6:05PM | Monday, 25 June 2012 | Michelle Hammond

A new study shows Australia is a relatively low taxing country compared to other countries, but an expert says this highlights a “double-edged sword” in maximising the benefits of lower taxes.

ACCC launches hotline for carbon price claims

6:18PM | Monday, 18 June 2012 | Michelle Hammond

Small businesses unsure about carbon price claims can now access a dedicated hotline, designed to make it easier for consumers and business to complain if they suspect a price claim is false.

The carbon tax: What your business must know

6:59PM | Monday, 18 June 2012 | Michelle Hammond

There is now just two weeks until the carbon tax is introduced. Here are the key details you must be aware of before July 1. BY MICHELLE HAMMOND.

Kogan slams “antiquated” browser after introducing Internet Explorer 7 “tax”

6:26PM | Thursday, 14 June 2012 | Michelle Hammond

Online entrepreneur Ruslan Kogan has fulminated against “antiquated” web browsers, after introducing the world’s first “Internet Explorer 7 tax”, effective as of today.

Google tax bill prompts call for local IP development boost

5:00PM | Monday, 28 May 2012 | Michelle Hammond

Creating more R&D incentives and improving capital markets have been cited as potential drivers of intellectual property and tax revenue in Australia, in the wake of revelations of Google Australia’s modest tax bill.

Government urged to bolster biotech start-up investment

5:35PM | Wednesday, 23 May 2012 | Michelle Hammond

The Federal Government should introduce more incentives to boost investment in biotechnology, a major industry player has argued, despite some recent high-profile deals in the high-risk sector.

Seven essential tax time housekeeping tips

5:30PM | Wednesday, 23 May 2012 | Greg Hayes

It’s just six weeks until the end of the financial year. Unless you want the taxman to clean your business out, you must start dealing with these seven areas right now. BY GREG HAYES.

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