Tax scam warning

The ATO has warned taxpayers and businesses to be extra vigilant to guard against scammers throughout the COVID-19 pandemic, pointing out that scammers often work to steal your money and identity while you’re most vulnerable. “Life’s busier than ever for small business owners. Scammers hope you’re too busy to check what they’re saying so you’ll hand over your […]

Changes to bankruptcy law

Sole traders and businesses operating as a partnership are being offered temporary protection during the COVID-19 pandemic. To reduce the financial stress, the Australian Government has temporarily changed bankruptcy laws to protect people who are facing unmanageable debts to help them stay afloat in this difficult period, rather than face insolvency or mandatory closure. This […]

STP exemption period extended for closely held payees

The ATO has moved the exemption cut-off date for Single-Touch Payroll (STP) reporting back a full year to 1 July 2021 in light of the COVID crisis. This applies to businesses with less than 20 employees. The ATO defines closely held payees as those directly related to the entity from which they receive payments, including family members directors or shareholders […]