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Posted by GTC Financial on 21.05.2024

Company Money Crackdown by ATO

The ATO is cracking down on business owners who take money or use company resources for themselves.

It’s common for business owners to utilise company resources for their personal use. The business is often such a part of their life that the line distinguishing ‘the business’ from their life can be blurred. While there are tax laws preventing individuals accessing profits or assets of the company in a tax-free manner, mistakes are being made and the Australian Taxation Office (ATO) has had enough.

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Topics: Tax, Risk Management, ATO

Posted by GTC Financial on 19.12.2023

Bah humbug: The Christmas tax dilemma

Don’t want to pay tax on Christmas? Here are our top tips to avoid giving the Australian Tax Office a bonus this festive season.

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Topics: Gifts, FBT, Christmas, ATO

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