Businesses owners that operate using an ABN (excluding sole traders) will need to nominate a Tax or BAS agent using the digital id (myGovID) when engaging a new agent or re-engaging the services of a previous agent. Existing client/agent relationships won’t need to undertake this… Read More »Client-to-Agent Linking
ASIC is asking directors & preparers of annual and half-year reports and auditors to assess whether companies’ 2022 annual and half-year financial reports are providing useful and meaningful information for investors and other users alike. ASIC details the main areas of focus for this company… Read More »ASIC: Focus areas for company reporting
From the 2021–22 income year, companies that are base rate entities must apply the 25% company tax rate. The rate was previously 27.5% from the 2017–18 to 2019–20 income years and 26% in the 2020–21 income year. For your company to be a ‘base rate… Read More »ATO – lower company tax rate
As a company director you are responsible for ensuring that the company’s tax and super obligations are reported and paid on time. If your company does not pay certain liabilities by the due date, the ATO can recover these amounts from you personally as a… Read More »ATO: Directors Tax & Super liability
The director identification number (director ID) is a unique identifier that a director will apply for once and will keep forever. If you’re a director of a corporate trustee of a self-managed super fund (SMSF) you will need to apply for a director ID. You… Read More »Preparing for your director ID