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Queensland set to exempt eligible medical practices from Payroll tax

Wed Oct 16 2024

Both the Queensland Labor party and LNP have made announcements as to what the future holds for the so called ‘patients tax’ from Payroll Tax on medical practices if they are elected.

Your personal assets could be at risk - Understanding Director Penalty Notices

Wed Oct 09 2024

In the 2024 financial year alone, the Australian Taxation Office (ATO) issued nearly 27,000 Director Penalty Notices (DPNs), valued at $4.4 billion. Tax debts increased by $40 billion from 2018 to 2023, forcing a shift in the ATO’s approach to collecting tax debts following the pandemic. This shift is particularly evident in the DPN space. This article explores the key aspects of DPNs and how directors can navigate their responsibilities.

Pilot Directions Newsletter Volume 64, September 2024

Tue Oct 01 2024

This quarter's Pilot Directions Newsletter includes a range of useful information and insights for businesses.

ATO Firmer Action to Reduce Looming Post-Pandemic Tax Debts

Tue Oct 01 2024

The Australian Taxation Office (ATO) tax receivables increased by $40 billion from 2018 to 2023, forcing a shift in their approach to collecting tax debts following the pandemic.

Crowd-Sourced Funding

Tue Oct 01 2024

Crowd-sourced funding (CSF), often referred to as crowdfunding, is a financial service that enables start-ups and small businesses to raise capital from a large pool of investors, each contributing small amounts.

Boost for businesses now available with government funding up to $7500

Mon Sep 30 2024

Businesses with five or fewer employees can now apply for substantial grants to pay for professional advice. Through the State Government’s Business Basics Grants Program, eligible businesses can receive up to $7,500 without the need for a co-contribution. This funding provides a valuable opportunity to tap into expert guidance, helping business owners make informed decisions, enhance operations, and drive business growth.

Navigating Director Penalty Notices: Essential insights for directors and advisors [Webinar]

Mon Sep 09 2024

Gain crucial insights into the obligations, potential risks, and strategic approaches to managing Director Penalty Notices (DPNs) effectively. Whether you're a director, advisor or simply want to stay informed, this session will equip you with the knowldege to navigate the complexities of DPNs.

ATO Launches New Data-Matching Programs Targeting Lifestyle Assets and Property Owners

Tue Sep 03 2024

The Australian Taxation Office (ATO) continues to broaden and improve its data-matching programs. In this light, they have recently announced a new program focusing on high-value "lifestyle" assets and property owners.

Buying a car – What are your options?

Tue Aug 13 2024

When buying a new car, there are a number of options to consider, including whether to purchase through a business, or as a personal vehicle.

Payroll tax and your medical business value

Tue Aug 13 2024

On 22 December 2022, the Queensland Revenue Office (QRO) issued a Public Ruling PTAQ0006.1 for Relevant contracts – medical centres that may affect general practitioners through to medical specialists.

Beware increased Payroll Tax data matching & compliance activity

Wed Jul 17 2024

We are experiencing increased data matching compliance activity from State Revenue authorities. These reviews can lead to additional payroll tax obligations, including penalties and interest. Even if they do not, the cost and distraction of the audit is a problem in itself.

Tax Ready Reckoner 2024/2025

Fri Jun 28 2024

Pilot’s pocket sized tax reference guide has all of the relevant information to keep you up to date on Australian Federal and state tax laws.

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