Online Selling

 

The Australian Taxation Office (ATO) continues to increase their surveillance activity and utilize the electronic data bases of on-line sellers.

 

 

Data will be acquired relating to registrants who sold goods and services to an annual value of $12,000 or more during the 2015–2016, 2016–2017 and 2017–2018 financial years. 

Data will be sought from eBay for these three years and on an ongoing basis.  The data will be used to identify those apparently operating a business but failing to meet their registration and/or lodgment obligations.  It is estimated that between 20,000 and 30,000 records will be obtained.  Uber and Airbnb records are also provided.

 

AcctWeb

  • Budget breakdown – Federal Government Analysis

    The 2024 Federal Budget is broken down into these five PDFs. Click on each to read more.

  • Federal Budget 2024

    Four main components of this year's Federal Budget can be seen by using the following links.

  • Winners & Losers

    Jim Chalmers has handed down the government's third budget, with a $300 power bill boon for every Australian household, but the purse strings kept tight on other measures.

  • 2024 Year End Tax Planning Guide (Part 1)

    In May and June, we will add two articles to our website that help you plan and take action before the end of the 2023-24 financial year. Both Part 1 and 2 will cover the following, though Part I focuses on key strategies to manage your tax bill. All are worth dedicating time to review and think about how your business can organizeyour affairs in these ways.