The decision of where the headquarters of your business should be will have a significant hand in determining your profitability and productivity. Consider the following checklist to ensure you make the right choice. Will you buy or lease?First, you need to decide whether you will buy or rent. Entering a lease is less of a…
The ATO’s new data revealed that although the total amount of lost and unclaimed super reduced by $420 million in 2017-2018, there is still $17.5 billion left to be found. The ATO has prioritised reuniting people with their lost super spread across over 6.2 million accounts. In the past financial year, the ATO was successful…
A default assessment is an assessment of taxable income for overdue tax returns or the net amount or assessable amount-for late activity statements. Although the ATO’s preferred approach is to work with taxpayers to help them meet their lodgement obligations, a default assessment will be issued if this collaborative approach fails. PenaltyThe administrative penalty of…