Federal Budget 2016 wrap up.

By David Buff | May 31, 2016

The Budget has a few sweeteners, but not so much that will turn anyone hyperactive. The welcome news is that the turnover threshold for classifying a “small business entity” will increase from $2 million to $10 million. This will allow a further 90,000 to 100,000 businesses to access a range of small business tax concessions,…

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Amending your activity statement

By David Buff | May 9, 2016
Activity Statement

Once we have lodged your latest activity statement, you may realise that something has been left out or you have neglected to include a particular item. The Australian tax system is based on “self-assessment”, which means the ATO generally takes your word, under our guidance, and bases its assessment on the information it has been…

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