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The Small Business Restructure Roll-over came into effect on 1 July 2016 making it possible for small business owners to restructure their businesses.
Tax

New Small Business Restructure Roll-over

New Small Business Restructure Rollover The Tax Laws Amendment (Small Business Restructure Rollover) Act 2016 was officially sanctioned and came into effect on 1 July 2016. The new Small Business Restructure Rollover forms part of the Growing Jobs and Small Business package. As a small business owner, you will be able to change the legal

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Tax

Update on the ATO Data Matching Program for Lifestyle assets and Property transactions

The ATO is increasing data matching activities to identify discrepancies amongst individual taxpayers such as undeclared income and incorrect claims. These activities include online selling (eBay) transactions as well as information regarding visa holders in Australia. In addition, Lifestyle assets and historic property transactions will be reviewed. Lifestyle Assets The ATO published their Lifestyle assets

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