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Businesses can no longer claim deductions for payments to workers if they have not met their pay as you go (PAYG) withholding obligations. This applies to income tax returns lodged for the 2020 income year onwards.
There has recently been a significant increase in scam emails purporting to be from either the ATO or from MyGov.
Whilst cash still remains popular in businesses dealing in small purchases such as cafes, if you run a business that handles larger transactions then changing to a cashless system could benefit you in many ways.
Lodge and Pay March 2019 monthly business activity statement
Lodge and Pay March 2019 quarterly business activity statement if lodging by paper
Make super guarantee contributions for March 2019 quarter by this date
Your business must be independent of any one individual if you want your business to thrive in the marketplace on a long-term basis.
New penalties for business’ Pay As You Go (PAYG) withholding and reporting obligations will commence 1 July 2019.
Tuesday night’s Federal Budget, delivered a month early in anticipation of the upcoming Federal Election, contained a variety of measures across taxation, superannuation, social security and aged care that will affect many of our clients and their financial plans. Please note that these proposals are not yet legislated, and as always, the team at AGS Financial Group are well placed to advise you on your strategic options as these proposals progress.
Small businesses with cash flow problems put themselves at risk of failing or suffering financial hardship.
Lodge TFN report for closely held trusts if any beneficiary quoted their TFN to a trustee in quarter 2, 2018–19.
|21 February||Lodge and pay January 2019 monthly BAS|
Lodge and pay December 2018 quarterly Activity Statement
Lodge and pay income tax return for newly registered Self Managed Superannuation Funds
Financial planning, corporate benefits and mortgage services are provided by AGS Financial Group Pty Ltd ABN 70 093 990 946, an Authorised Representative of AMP Financial Planning Pty Limited ABN 89 051 208 327 (AMPFP), AFS Licence No 232706. Accounting, taxation, and business advisory services are provided by AGS Accounting Pty Ltd ABN 12 166 728 696. AGS Accounting Pty Ltd is a member of Chartered Accountants Australia & New Zealand. Liability limited by a scheme approved under Professional Standards Legislation.