ATO

Tax Update: ATO Cracks Down on Multinationals with New Transfer Pricing Rules

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The Australian Taxation Office (ATO) is rolling out major changes to how multinational companies must report their cross-border transactions—and businesses, especially in the tech sector, need to act quickly or face steep penalties. If your company has overseas entities, pays related parties for services, or holds intellectual property (IP) offshore, you may be affected by […]

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ATO’s Stricter Refund Rules: Why Prepaying Tax May Cost You

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An Australian accountant has warned business owners after the Australian Taxation Office (ATO) refused to refund a $20,000 overpayment, highlighting the growing risks of prepaying tax debts. ATO Tightens Its Approach to Refunds A business owner recently mistakenly paid their ATO debt twice, leaving them with an overpayment of $20,000. Expecting a routine refund, the

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Boost Your Practice’s Financial Health: Tax Compliance for Doctors in 2024

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As the new financial year approaches, it’s time for medical professionals to reassess their financial operations. Keeping your practice healthy from a financial perspective is just as important as providing high-quality care for your patients. For medical professionals, staying on top of tax compliance can be a complex task. That’s why Boa & Co. Chartered

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Eight Tax Tips for High Earners to Maximise Their 2024 Return

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With changes to income tax rates from July 1, the end of this financial year is particularly significant for high-income earners. The upcoming stage three tax cuts will reduce the overall tax burden in the next financial year, creating an opportunity to optimise your tax return. By bringing deductions forward and deferring income, you can

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