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Epoch News

Will your business be audited?

Ever wondered how the ATO identifies audit targets? The ATO is very upfront when it comes to their compliance activity. Every year they publish small business benchmarks that outline what a typical business ‘looks like’ in different industries. If your business falls...

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Get up to speed on the ATO’s FBT ‘Hot Spots’

The Fringe Benefits Tax (FBT) year ends on 31 March. I’ve outlined the key hot spots for employers and employees. Motor Vehicles – using the company car outside of work Just because your business buys a motor vehicle and it is used as a work vehicle, that alone does...

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What’s changing in 2018?

1 January 2018 Vacancy fees for foreign acquisitions of residential land - An annual vacancy fee imposed on foreign owners of residential real estate if the property is not occupied or genuinely available on the rental market for at least 183 days in a particular 12...

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New data breach laws come into effect

New data breach rules in effect from 22 February 2018 place an onus on business to protect and notify individuals whose personal information is involved in a data breach that is likely to result in serious harm. In October last year, almost 50,000 employee records...

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2022 Business checklist

2022 Business checklist

Here’s our list of the top 10 things to action or keep an eye on in 2022. 1. BUDGET A budget is the most prized weapon in your business arsenal.  A well-thought-through budget will capture your expected monthly income and expenses and enable you to track how you’re...

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ACCC gets tough on credit card surcharge

The ACCC has issued a warning to businesses charging excessive credit card fees. One large merchant has already been issued with four infringement notices and has paid $43,200 in penalties. The new rules, which came into effect from 1 September 2017, prevent merchants...

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Why property ‘flipping’ is the next ATO target

The tax law does not allow you to ‘flip’ a property tax-free even if you are living in it. Most people think they can move into a property, renovate it, and then sell it without paying tax. The main residence exemption - the exemption protecting your family home from...

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