Month: November 2019

ATO support for taxpayers affected by bushfires

ATO support for taxpayers affected by bushfiresWith devastating bushfires burning across large parts of New South Wales and Queensland, the ATO has advised that it doesn’t want taxpayers to be concerned about their tax affairs if they’ve been impacted. The ATO says it will help taxpayers sort out their tax affairs later. Taxpayers affected by this disaster …

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Accountants warned on rising bankruptcies linked to Division 7A

A spike in bankruptcies as a direct result of director loans has led to concerns that clients may not fully understand their obligations with Division 7A loan accounts, an insolvency firm has warned. Jirsch Sutherland partner Stewart Free said he has seen a recent increase in bankruptcies directly related to Division 7A loans. “Many business …

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