Beacon Business Accountants are Business and Property Tax Specialists, and Accounting Advisors.

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Relevant Accounting News

We’re here to help with a collection of accounting news sites, associations, and organizations that can help you keep up in the ever-changing world of accounting.

Category: Business Tax

The Government’s SME Recovery Loan Scheme (the Scheme) is designed to support the economic recovery and provide continued assistance to SMEs dealing with the economic impacts of the coronavirus crisis

SME Recovery Scheme

The Government’s SME Recovery Loan Scheme (the Scheme) is designed to support the economic recovery and provide continued assistance to SMEs dealing with the economic impacts of the coronavirus crisis. Eligible Businesses: The recipient of a JobKeeper payment between 4 January 2021 and 28 March 2021. *   Note: a JobKeeper

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ATO Taxable Payments, the ATO has confirmed that more than 60,000 businesses have not yet complied with lodgement requirements under the taxable payments reporting system (‘TPRS’) for 2019/20

ATO’s taxable payments reporting system update

The ATO has confirmed that more than 60,000 businesses have not yet complied with lodgement requirements under the taxable payments reporting system (‘TPRS’) for 2019/20. The TPRS is a black economy measure designed to assist the ATO to identify contractors who don’t report or under-report their income. The ATO estimates

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Passenger movement data-matching program. The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years

Passenger movement data-matching program

The ATO will access data from the Department of Home Affairs on passenger movements during the 2016/17 to 2022/23 financial years, and match it with certain sections of ATO data holdings to identify taxpayers that can be provided with tailored information to help them meet their tax and superannuation obligations,

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The ATO has updated the luxury car tax thresholds for the 2021/22 financial year.

Luxury car tax threshold

The ATO has updated the luxury car tax (‘LCT’) thresholds for the 2021/22 financial year. The LCT threshold for fuel efficient vehicles in 2021/22 is $79,659 (up from $77,565 in 2020/21) and the LCT threshold for other vehicles in 2021/22 is $69,152 (up from $68,740 in 2020/21). Editor: Note that

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New Succession Planning guide for family businesses. The Australian Small Business and Family Enterprise Ombudsman, in conjunction with Family Business Australia, has released a new online guide to succession planning.

New Succession planning guide for family businesses

The Australian Small Business and Family Enterprise Ombudsman, in conjunction with Family Business Australia, has released a new online guide to succession planning — the “Introductory Guide to Family Business Succession Planning” — which provides a step-by-step guide to passing the family business on to the next generation. A recent

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2022 Financial Year, another financial year has come and gone. It certainly has been a tumultuous twelve months with Covid, Jobkeeper, lockdowns and vaccine rollouts!

2022 Financial Year in full swing.

Another financial year has come and gone. It certainly has been a tumultuous twelve months with Covid, Jobkeeper, lockdowns and vaccine rollouts! With Jobkeeper and other government assistance having now ceased, business is left to stand on its own. From what I have seen most have made it through relatively

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