Posted in Business Planning

The ATO has the ability to make company directors personally liable for company debts including employee entitlements such as superannuation If your business is structured as a company and you are the director you will be personally liable for unpaid employee entitlements, including superannuation The ATO may issue a Director Penalty Notice (DPN) for unpaid employee entitlements and if you as a director of your company receive one, then you need to take immediate action Th...

The Federal Government announced in May, 2023, a proposal for employers to be required to pay their employee super contributions on the day the employee is paid: The present requirement is for the employer to pay their employee super contributions each financial year quarter (September | December | March | June) The proposal is currently with Treasury department for consultation, but if adopted the new requirements would commence from 1 July, 2026 Business cashflow will be key to me...

As most businesses transform their recordkeeping from paper-based to digital, it is sometimes difficult to understand what the legal requirements are for recordkeeping.

Luckily, the ATO have kindly provided guidance as to what they require in terms of digital record keeping.  What the ATO will accept and ensure that you are complying with their requirements.  It is important to understand your requirements so that in the event the ATO need you to prove tax deductions, you will...

The Australian Consumer Law ('ACL') has a specific requirements for collecting monies owed and protect the consumer from unfair treatment during the process.

Sometimes debt collectors can be quite aggressive and if this is the case, it is worthwhile contacting the Australian Competition and Consumer Commission ('ACCC') to know your rights and report any unfair treatment.

The ACCC recently updated their guide for debt collection (both collectors and creditors) which provides ...

Money scams are increasing and the most popular is 'false billing'. The recent ACCC report "Targeting scams: report of the ACCC on scam activity 2020" highlights the increase of criminals using payment redirection scams whereby they pretend to be a supplier of the business and request payment of a fake invoice using the criminal's bank account details. The criminals usually hack into your email systems, so they know the credible details of your suppliers.  The fak...