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 […]
The ATO hits the road
Could you be a black economy target? The ATO plans to visit almost 10,000 businesses this financial year in all States and Territories, across a variety of industries, as part of their strategy to deal with the black economy (they visited nearly 9,000 businesses in the 2018/19 financial year). According to Assistant Commissioner Peter Holt, […]
Perth dentist case study
Financial Planning expertise adds polish to Perth dentist’s affairs Shelley’s experience was like many others when it came to organising her personal affairs. She’d found a financial adviser with whom she worked well but, when he inevitably left for greener pastures, she was offered a litany of replacements that changed too frequently for her liking. […]
Omnis Group health industry case study
Health professionals case study Despite working with advisors who purported to be medical industry experts, by the time Registered Nurse Elle and her Specialist husband were introduced to Justin and Daniel at Omnis Group, they were desperate for useful advice and practical assistance to enable them to effectively manage their successful medical practice, and the […]
Healthcare practitioners
Lump sum payments for healthcare practitioners If you are a healthcare practitioner, you may receive lump-sum payments. It is important to know how to treat these correctly when received. As part of the ATO’s work on the Tax Avoidance Taskforce, they see a number of arrangements in the healthcare services industry where a lump sum payment is made and […]