Division 7A: 4 common errors

Posted by Tanya Moran on 28-May-2018 07:00:00

 

Despite it having been in place for more than 15 years, Division 7A continues to be a high risk area and the Australian Taxation Office (ATO) regularly monitors. Division 7A is part of the Tax Act and it provides provisions to prevent private company owners from avoiding dividend taxation through accessing company profits in other ways other than dividends.

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Topics: ATO, Tax return, Company tax return, Lodgement, Division7A, Tax Act

Reduction of corporate tax rate, do you now qualify as a small business?

Posted by Tanya Moran on 11-Mar-2018 08:37:00

While there have been changes to the corporate tax rate, these are not applied across the board. You need to assess your own company’s circumstances to determine your eligibility for reduced corporate tax.       

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Topics: Azure Group News, ATO, corporate tax, tax reduction, Budget 2018, Company tax return, Business accountants, Large businesses