The ATO has announced that it will be conducting a new data-matching program with information from the Department of Home Affairs on passenger movements during the 2016-17 to 2022-23 income years. It will use this data to determine whether business entities and individuals are residents and whether they have met their lodgment and registration obligations.
As the JobKeeper program comes to a close, businesses should be aware that the ATO will continue to maintain the integrity of the scheme through compliance activities. While a majority of the businesses have legitimately used the JobKeeper to keep their businesses afloat, the ATO does have concerns with some businesses taking advantage inappropriately.
In a bid to protect the super savings of Australians by weeding out underperforming super funds, the government is currently attempting to legislate requirements which will involve APRA conducting annual performance reviews for certain superannuation products. It is just one of the measures aimed at improving Australia’s superannuation system which manages around $3 trillion in retirement savings.
Castletons is one of the very first accountancy firms in Australia to launch a free mobile Tax App. The great news is that the APP can be downloaded free onto your iPhone,iPad or Android devices. It's packed full of some really useful Tax Tables, Calculators and important financial dates, all of which you will be able to access for free, anywhere you have an internet connection on your device.