From Float To Failure: The Ugly Story Of Dick Smith Early last month, the Senate announced an inquiry with terms of reference that cover the collapse of Dick Smith Electronics. There is a lot for senators to pore over in the float and failure of Dick Smith. From its float to its failure, the story […]
Changes to being able to pre-pay tax
Changes to being able to pre-pay tax The ATO has advised practitioners that to make it easier for clients to manage their tax liabilities, they can now pre-pay their activity statement before the due date. In the past, the ATO automatically refunded credits from early payment. Now, a pre-payment made towards a tax liability before […]
What is a Director Penalty Regime?
What is a Director Penalty Regime? Under the pay as you go (PAYG) withholding system, the Income Tax Assessment Act 1997 (ITAA) requires companies to withhold money from wages to meet employees’ tax liabilities to the Australian Taxation Office (ATO). Companies are also required to pay a superannuation guarantee charge (SGC) under the Superannuation Guarantee […]
