• Cleaners, couriers, and construction industry reminded to lodge TPAR

    First 5000     |      August 13, 2019

    Businesses that provide cleaning or courier services, as well as businesses in the building and construction industry may need to lodge a Taxable Payments Annual Report (TPAR) with the Australian Taxation Office (ATO) by 28 August 2019. 

  • Low and middle income tax offset passes parliament

    First 5000     |      July 8, 2019

    The government’s income tax cuts package passed through the Parliament late last week and the ATO said it is implementing the necessary system changes for taxpayers who have already lodged their tax return.

  • ‘Cash in hand’ payments to workers no longer tax deductible

    First 5000     |      June 18, 2019

    The Australian Taxation Office (ATO) has reminded employers that any ‘cash in hand’ payments made to workers from 1 July 2019 will not be tax deductible.

  • 30,000 reasons for SMEs to act fast

    First 5000     |      June 6, 2019

    Small and medium-sized enterprises (SMEs) must act fast to secure finance ahead of 30 June 2019 to take advantage of the $30,000 instant asset write-off in the current financial year, according to SME lender OnDeck Australia. 

  • ATO to iron out false laundry claims

    First 5000     |      June 4, 2019

    The Australian Taxation Office will target false clothing and laundry work-related expense claims this Tax Time. In 2018, around six million people claimed work-related clothing and laundry expenses totalling nearly $1.5 billion.

  • Regional Victorian businesses to benefit from budget tax savings

    First 5000     |      May 29, 2019

    Regional Victorian businesses have emerged big winners from the Victorian State Budget handed down on Monday. 

  • $30k asset write-off up for grabs: is your business eligible?

    First 5000     |      May 22, 2019

    With the end of financial year fast approaching, small and medium-sized businesses are being reminded they could be eligible for an instant asset write-off of up to $30,000.

  • ASBFEO report finds ATO early debt recovery action excessive

    First 5000     |      April 30, 2019

    In a report on early debt recovery action by the Australian Taxation Office (ATO), the Australian Small Business and Family Enterprise Ombudsman found garnishee notices were issued in a sizeable number of cases where tax disputes were before Administrative Appeals Tribunal (AAT).

  • Lower taxes for hard-working Australians and small business

    Josh Frydenberg     |      April 2, 2019

    The Morrison Government is building a better tax system that rewards hard-working Australians and empowers small and medium-sized businesses to invest, grow and create more jobs.

  • Surgeons biggest earners in 2016-17

    First 5000     |      March 30, 2019

    The Australian Taxation Office (ATO) has released the annual Taxation Statistics report for the income year 2016–17. The report presents an overview of 16.5 million 2017 income tax returns for 13.9 million individuals, 970,000 companies, as well as super funds, partnerships and trusts.

  • ATO collects more than $500 million from illegal phoenix operators

    First 5000     |      March 29, 2019

    The Australian Taxation Office (ATO) today announced it has collected more than $500 million in revenue for the Australian community as a result of audits of illegal phoenix operators since the Phoenix Taskforce started in November 2014.

  • ATO benchmarks help small businesses ‘swim between the flags’

    First 5000     |      March 5, 2019

    The Australian Taxation Office (ATO) has released updated benchmark data to help small businesses across the country compare their performance with their competitors and ‘swim between the flags’.

  • $2.7 billion protected from the black economy

    First 5000     |      February 12, 2019

    The taxable payments reporting system (TPRS) protected $2.7 billion from being lost to the black economy in the building and construction industry in the 2015-16 financial year.

  • ATO releases corporate tax data

    First 5000     |      December 14, 2018

    The Australian Tax Office has published information about Australia’s corporate tax system, which continues to build a picture of the tax affairs of the largest companies operating in Australia.

  • Tax relief for small and medium-sized businesses

    First 5000     |      November 13, 2018

    Millions of small and medium–sized businesses across Australia will pay less tax five years sooner, with new laws fast-tracking tax relief for the sector passing Parliament, last month.

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