ATO Small Business Assistance Program
Small Business Newsletter
11
In the 11th edition of the Small Business News ...
Small Business special topic
Your small business
Tax help still available for those affected by natural disaster
Even though the extended lodgment dates for those affected by natural disasters have come to an end, help is still
available Commissioner of Taxation Michael D'Ascenzo announced.
Cash sales benchmarks withdrawn
Broadcast sent on 1 April 2011, advising that our cash sales benchmarks, for the 2009 year, released in
November 2010 have been withdrawn from use.
Your SME business
Workforce education news - Issue 2/2011
This second issue of Workforce education news for 2011 covers topics affecting employers, employees,
professional associations and their members. Topics include superannuation and tax time information. Issued in
April 2011.
SME Communicator - April 2011
The SME Communicator provides relevant information specific to businesses with an annual turnover between
$2 million and $250 million
Tax articles
Trio of tax cheats brought to justice
Three men have been sentenced to over 11 years combined jail time for their involvement in tax fraud worth more
than $4.5 million.
Has your rental property been damaged or destroyed by a natural disaster?
Information to assist where rental properties have been damaged or destroyed by a natural disaster.
Correcting GST mistakes
Following changes to the goods and services tax (GST) law, correcting a GST mistake is now subject to a fouryear time limit for claiming input tax credits.
Time limits on GST refunds
A four-year time limit applies to claiming GST refunds unless an exception applies.
Latest taxation statistics now available
Taxation statistics 2008-09 - the ATO's latest and most comprehensive statistical publication is now available.
Ever missed the cut-off date for super?
Information about what to do if you miss the super guarantee cut-off date and lodging a super guarantee
charge statement.
Sham contracting
Some businesses are engaging in sham contracting to falsely lower their labour costs and avoid their pay as you
go (PAYG) withholding and super guarantee responsibilities. They do this by incorrectly engaging employees as
contractors.
We conduct field audits to discourage this behaviour. Many of the businesses we select to audit have been
reported to us through a community referral.
If you become aware of businesses engaged in sham contracting, we recommend you notify the Tax Evasion
Referral Centre:
o
o
your clients can phone 1800 060 062
you can phone 13 72 86 Fast Key Code 3 4.
For further information, refer to Tax evasion and crime.
Flood levy
Information about the flood levy, who will pay and who is exempt.
Improving the taxation of trust income
Interim trust changes announced to enable the streaming of capital gains and franked distributions. The
government will also introduce specific anti-avoidance rules to target the use of low tax entities, especially exempt
entities, to reduce the tax payable on the taxable income of a trust.
Guide to non-commercial losses
If you're in business as an individual, either alone or in a partnership, you can only offset a business loss against
your other income if the business is a genuine commercial concern.
News from other government agencies
Department of Innovation, Industry, Science and Research
Have a big voice on your industry’s future
No matter what size your business is, it’s important to have your say on government policy and regulation that can affect the
future of your industry.
By registering with the Business Consultation website, you can stay informed and have your say on the policy shaping your
industry’s future. You’ll receive alerts when a policy that may affect you is available for consultation, making sure you’ll never
miss your chance to have your voice heard.
To register your details and start receiving alerts, go to consultation.business.gov.au
Helpful links...
Free and helpful tax assistance - no strings attached
Measures to assist small businesses
Small Business Support
Guide to online services - business essentials
The articles in this newsletter are provided for general guidance and are current when first published; they do not attempt to address your
specific circumstances. We suggest you consider whether more specific advice is necessary before entering into transactions.
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