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Getting back what you put in: Loans to get a business started

By WSCAdmin | Created on March 8, 2024

It’s not uncommon for business owners to pour their money into a business to get it up and running and to sustain it until it can survive on its own.

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Revised stage 3 tax cuts confirmed for 1 July

By WSCAdmin | Created on March 8, 2024

The revised stage 3 tax cuts have passed Parliament and will come into effect on 1 July 2024.

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How to take advantage of the 1 July super cap increase

By WSCAdmin | Created on March 8, 2024

From 1 July 2024, the amount you can contribute to super will increase. We show you how to take advantage of the change.

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The Fringe Benefit Tax traps

By WSCAdmin | Created on March 8, 2024

The Fringe Benefits Tax year (FBT) ends on 31 March. We explore the problem areas likely to attract the ATO’s attention.

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The ATO Debt Dilemma

By WSCAdmin | Created on March 8, 2024

Late last year, thousands of taxpayers and their agents were advised by the Australian Taxation Office (ATO) that they had an outstanding historical tax debt.

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Small business concessions

By WSCAdmin | Created on March 5, 2024

The ATO has recently issued a reminder that small business owners may be eligible for concessions on the amount of tax they ultimately pay.

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Super contribution caps to rise

By WSCAdmin | Created on March 5, 2024

The big news story for those contributing to super is that the contribution caps are set to increase from the 2025 income year.

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Penalties soon to apply for overdue TPARs

By WSCAdmin | Created on March 5, 2024

Businesses that pay contractors to provide certain services may need to lodge a Taxable Payments Annual Report (TPAR) by 28 August each year.

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Jail sentence for fraudulent developer

By WSCAdmin | Created on March 5, 2024

A developer who conspired to lodge fraudulent business activity statements has been convicted and sentenced to 10 years in jail with a non-parole period of six years and eight months.

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Avoiding common Division 7A errors

By WSCAdmin | Created on March 5, 2024

Private company clients who receive payments, benefits or loans from their private companies need to ensure compliance with their additional tax obligations (which are often referred to as their 'Division 7A' obligations).

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