Tag Archives: 2023

Sharing Economy Reporting regime

The Sharing Economy Report Regime (SERR) has now commenced, for the 2023-24 income year. Only transactions for supplying taxi travel/ride sourcing and short-term accommodation need to be reported under the regime. However, from 1 July 2024, the SERR will apply to all other reportable transactions of electronic distribution platform operators (EDPs) including hiring of assets...
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International businesses and GST

https://youtu.be/N6AqclwWpqA?si=3Nmy_1ahx0pB38aH International businesses that have sales connected to Australia over a certain threshold may need to register and pay GST in Australia. This applies to electronic distribution platform (EDP) operators that allow merchants to make sales of services, digital products or low value goods to Australian customers; merchants who sell services, digital products, and/or low value...
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ATO crackdown on TPAR lodgements

The ATO has reminded relevant taxpayers to lodge their Taxable Payments Annual Report (TPAR) by the annual deadline or as soon as possible. It notes that the deadline for each year is firm and those that fail to lodge their TPAR may be subject to penalties, the scale of which depends on the size of...
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Have you outgrown your current software?

As your business becomes more complex, so does the requirements of your accounting solution. Small accounting software like Xero or MYOB AccountRight provides basic accounting functionality which is generally suitable for sole traders or small businesses. Because of its reduced functionality and features, they’re easy to use and are offered at an affordable, appealing price....
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