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Australia
Thousands of Director Penalty Notices issued in ATO debt collection activities

By Michael Brereton on 08/07/21 - Mins to read: 3 minutes

Following a relatively quiet period during the COVID-19 pandemic, the Australian Taxation Office (ATO) has resumed its debt collection activities. This includes issuing warnings to thousands of company directors to actively manage their business debt, or face ATO action. The ATO’s activities include disclosing debts to credit bureaus, and (where...
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Are you considering starting in private practice?

By Julie O'Reilly on 08/07/21 - Mins to read: 3 minutes

We understand that starting in private practice can be daunting, so we’ve put together a list of key tax and accounting fundamentals that will help you with a smooth transition into contracting work. Structuring To commence work in private practice, it can be as simple as registering an ABN in...
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Are you ready to apply for your Director Identification Number?

By Scott Harrington on 08/07/21 - Mins to read: 3 minutes

Effective 1 November 2021, all directors of registered bodies are required to obtain a Director Identification Number (DIN). A DIN is a unique identifier that has been introduced as a means of addressing phoenixing arrangements, to help reduce fraud and fictitious behaviours and to enable tracking of directors and their...
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Federal Budget March 2022-23: Its impact on medical professionals

By Belinda Hudson on 08/07/21 - Mins to read: 3 minutes

Josh Frydenberg’s 2022 - 2023 Federal Budget was announced recently, with few surprises and a raft of initiatives of which many had been announced.  While last year we saw the Government splashing cash around to stimulate the economy, this year they played it a lot safer and focussed on some...
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Payroll tax: How practices are chosen for review

By Paul Copeland on 08/07/21 - Mins to read: 3 minutes

This article was first published on The Medical Republic on 15 March 2022. Be alert, but maybe not as alarmed. There are steps you can take to lower your risk of an audit and limit your exposure. Medical practices are once again being reminded to take their payroll tax obligations...
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