Many businesses have yet again fallen prey to cyber-criminals with a new scam that has fooled them into losing millions of dollars. The latest scam concerns fake invoices that are made to look as realistic as possible, sent from a legitimate-looking email address and showcasing many of the signs of real invoices.
Does panic set in the moment you receive a call from the ATO or your Accountant telling you that you are about to have your taxes audited? If it does, and you lose your sense of control & begin stressing, the first thing to do is just stop and breathe. Many times, its not what you think it is and you may have a few options on the table should you undergo an audit anyway.
The New Year is the perfect time for organisations to reassess their operations, and to implement new and more efficient processes.
If done correctly, this will lead to better productivity and greater profits, as well as more satisfied customers and better employee morale.
The agenda? – To shape and preserve the Australian community’s confidence that taxpayers are indeed paying the correct amount of tax. With this in mind, the ATO recently introduced its Justified Trust Initiative and its already leaving its mark on businesses in WA!
Trying to figure out how much money you can save on your taxes can be difficult, especially since the tax guidelines seem to change just slightly every year. While it might seem like you have a number months to prepare the information for your taxes, the reporting deadline will arrive faster than it seems like it should. That’s why it’s important that you sit down and start listing out your deductions as soon as you can.