ATO urges small businesses to take simple steps to avoid compliance action

Posted by Team AVS on 11 Feb, 2026 0 Comments

The ATO has advice for small businesses to avoid compliance actions.

The Australian Taxation Office (ATO) is encouraging small businesses to start 2026 strong to avoid compliance actions.

ATO Assistant Commissioner Angela Allen said the new calendar year is the perfect time for small businesses to reset their habits to set themselves up for success.

‘Every year we see small businesses run into avoidable issues because they haven’t ke

Time limits on tax return amendments

Posted by Team AVS on 30 Jan, 2026 0 Comments

Find out the time limit to amend your assessment if you're an individual or a sole trader.

Assessments

When you lodge your tax return for an income year, we issue you with an assessment (original assessment). An assessment shows your tax liability for that income year.

The ATO will issue you with an amended assessment showing your updated tax liability if either:

you request an amendment to your assessment, for example to include a d

Superannuation and relationship breakdown

Posted by Team AVS on 15 Jan, 2026 0 Comments

How your super is affected if your marriage or relationship breaks down.

Overview

If your relationship with your spouse ends, you should be aware of what can happen to the super entitlements of you both.

The Family Court and super-splitting laws generally enable super interests (accounts in super funds) or super payments (pensions or annuities) to be split by agreement or court order if a relationship breaks down.

There are options fo

Selling a going concern

Posted by Team AVS on 24 Dec, 2025 0 Comments

Consider what your GST obligations are if you are selling an ongoing concern.

Introduction

You are selling a 'going concern' if the:

sale includes everything that's necessary for the continued operation of the business
business is carried on by you until the day of sale.

Property that's part of a sale of a going concern can include any of the following:

the business property, when sold together with the assets and operating str

Personal super contributions

Posted by Team AVS on 15 Dec, 2025 0 Comments

Personal super contributions

How to make personal super contributions, including claiming a tax deduction so they are concessional contributions.

What are personal super contributions?

You can boost your super by adding your own personal contributions, which are the amounts you contribute directly to your super fund.

If you claim a tax deduction for them, they're concessional contributions and are effectively from your pre-tax income.

ATO warns about barter credit tax scheme

Posted by Team AVS on 3 Dec, 2025 0 Comments

The ATO is warning the community to steer clear of an emerging tax scheme involving barter credits.

The Australian Taxation Office (ATO) is warning the community to steer clear of an emerging tax scheme involving barter credits – a type of alternative currency used in some business networks.

A tax scheme that involves artificially inflating deductions for donations of barter credits to deductible gift recipients (DGRs) is on the rise. W

Payments you need to withhold from

Posted by Team AVS on 11 Nov, 2025 0 Comments

Withholding amounts may be required for your workers, other businesses and other payees, and sent to us.

Withholding by employers

Your withholding obligations depend on whether your worker is an employee or independent contractor. If your worker is:

an employee, you generally have to withhold amounts from payments you make to them
an independent contractor, you generally do not withhold amounts from payments you make to them (unless t

Franking distributions

Posted by Team AVS on 27 Oct, 2025 0 Comments

Explains the requirements to attach franking credits to a distribution.

About franking a distribution

To frank a distribution, the distribution must be frankable and the entity making the distribution must be a franking entity. A franking entity is a company or other eligible corporate entity that is an Australian resident, or a New Zealand company (NZ franking company) that chooses to enter the Australian imputation system (Trans-Tasman I

Spouse super contributions

Posted by Team AVS on 9 Oct, 2025 0 Comments

Spouse super contributions

How to split your own contributions with your spouse or claim a tax offset for making a contribution on their behalf.

Ways of contributing to your spouse's super

There are 2 ways of contributing to your spouse's super:

You may be able to split contributions you have already made to your own super, by rolling them over to your spouse's super – known as a contributions-splitting super benefit.
You can ma

Refund of franking credits for individuals

Posted by Team AVS on 1 Oct, 2025 0 Comments

What are franking credits and when individuals are eligible for a refund of franking credits.

Dividends and franking credits

Australian-resident companies pay tax on dividends they pay to shareholders, this system is the 'imputation system'. This is because the company may impute or attribute the tax they pay to you. The tax they allocate to you attaches to the dividend they pay as a franking credit.

If your dividends are franked or part

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