Monthly Archives: August 2021

ATO Data Matching of Lifestyle Assets Extended

Even among the doom and gloom of the pandemic lockdowns, the ATO continues to march on with its data matching programs. This time it has extended a previous data-matching program targeting the owners of lifestyle assets including marine vessels, motor vehicles and caravans, thoroughbred horses, fine art, and aircrafts. Data will be collected from various […]

ATO Turns its Attention to Crypto

Individuals and businesses trading in cryptocurrency and non-fungible tokens beware, the ATO is cracking down on those not including their capital gains or losses in their tax returns. Although many people think crypto is relatively anonymous, the ATO is obtaining transaction data from cryptocurrency designated services providers for its data-matching program, and closely monitoring where […]

Employers Beware: Increase in Super Guarantee

From 1 July 2021, the rate of super guarantee increased from 9.5% to 10%, businesses using manual payroll processes should be careful that this change doesn’t lead to unintended underpayment of super which may attract penalties. The rate you use to calculate super contributions depends on the date that you’re paying your employees in and […]

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