Monthly Archives: August 2019

New helpful resources for Charities

The ACNC has issued a range of factsheets, guides and templates in its ‘Small Charities Library’ for the use of small charities in meeting their compliance obligations. These documents provide guidance on a range of issues applicable for small charities, … Continue reading

Posted in Accounting Information | Leave a comment

Taxable Payments Annual Reports due soon

Businesses providing cleaning and courier services are reminded that they now fall within the scope of the Taxable Payments Annual Reports (TPAR). Information disclosed in these reports is used by the ATO to identify contractors who may not be doing … Continue reading

Posted in Accounting Information | Leave a comment

Tax treatment of compensation from financial institutions

By 30 June 2019, five major financial institutions paid $119.7 million in compensation for poor financial advice to 6,318 customers. The question is, how are these payments treated for tax purposes? The tax treatment varies according to why the compensation … Continue reading

Posted in Accounting Information | Leave a comment