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The ATO is warning businesses that if they incorrectly treat an employee as an independent contractor, then they risk receiving penalties and charges, including: PAYG withholding penalty for failing to deduct tax from worker payments and send it to the ATO; Super guarantee charge (‘SGC’), which is more than the super that would have been...

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The way the ATO applies and remits interest on unpaid tax debts is attracting close scrutiny. With the Tax Ombudsman now conducting a review into how these charges are managed, it’s an issue that may affect many taxpayers and small businesses already under financial pressure. We’re sharing the following article from AccountantsDaily, which outlines the...

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Buying a first home isn’t always easy, and first-timers sometimes miss out on a place they’ve set their heart on. But more than one-in-ten first-time buyers have missed out simply because they didn’t have home loan pre-approval. Buying a first home can be an emotional roller coaster. It’s not unusual to find a property you...

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The ATO will be sending certain employers a reminder to lodge their activity statements. The reminder will include the amounts the ATO has on record for them, such as: PAYG withheld amounts reported through Single Touch Payroll; and any other pre-filled amounts, including GST instalments and PAYG instalments (instalment amount option). The ATO’s reminders are...

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The ATO will acquire relevant account and transaction data from the Australian Financial Crimes Exchange (‘AFCX’) for the 2025 to 2027 income years, including the following: Client identification details (names, addresses, phone numbers, dates of birth, identity verification document details, IP addresses, etc); and Bank account transaction details (bank account details, transaction date and amount,...

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The Small Business Superannuation Clearing House (‘SBSCH’) will close on 1 July 2026. The SBSCH is a free online service provided by the Australian Government through the ATO and can be used by employers to pay superannuation for all their employees through a single payment. The SBSCH will then distribute the money to each employee’s...

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