ATO focus on small business November 2025
The ATO is zeroing in on common business tax errors across industries like construction, IT and professional services, especially for businesses turning over $1M to $10M. From overclaimed deductions to FBT myths about dual cab utes, the message is clear: get it right before the ATO does.
Common Tax Mistakes Sole Traders Should Avoid
Sole traders, take note — the ATO is cracking down on common tax reporting and expense mistakes. Make sure you’re getting it right.
How to manage business day-to-day transactions
The ATO has provided following tips for small business owners to make tax life easier — see if you agree.
ATO’s fervent focus on small business
The Tax Office has announced its major areas of interest regarding small businesses, highlighting a tougher stance on compliance and GST fraud.
Tribunal Decisions uphold ATO stance on GST and UPEs
The AAT rejected a taxpayer’s late input tax credit claim, while the Full Federal Court upheld a decision that unpaid present entitlements (UPEs) are not considered loans for Division 7A purposes.
GST classification of products
Avoid GST Classification Errors: ATO Guidance for Small and Medium Businesses Self-Review Tips for Food and Health Product GST Compliance GST classification errors can lead to significant under-reporting of GST for some taxpayers. The ATO recently issued guidance for small to medium businesses on self-reviewing GST classification of food and health products. The use of […]
Sale of land subject to GST
AAT Rules on GST Liability for Land Sale Enterprise Activities Determination The AAT recently held that the sale of land by a taxpayer was subject to GST, as it was a supply made in the course of an enterprise being carried on by the taxpayer. The taxpayer purchased a single parcel of land in 2013 […]
Claiming GST credits for employee expense reimbursements
Claiming GST credits for employee expense reimbursements Employers may be entitled to claim GST input tax credits for payments they have made to reimburse employees for expenses that are directly related to their business activities. A ‘reimbursement’ is provided when a taxpayer pays their employee the amount, or part of the amount, of a particular […]
2023-24 Federal Budget Summary
Modest but meaningful A range of measures provide cost-of-living relief to individuals such as increased and expanded JobSeeker payments and better access to affordable housing. As part of the measures introduced for small business, a temporary $20,000 threshold for the small business instant asset write-off will apply for one year, following the end of the […]
Feds crack down on tax fraud
ATO and AFP crackdown on GST-fraud promoters A raft of enforcement activity has been undertaken across the country by the ATO-led Serious Financial Crime Taskforce, including the execution of search warrants and issuing of warning letters. At 31 December 2022, the ATO took compliance action on more than 53,000 clients and stopped approximately $2.5 billion […]
