Key ATO Tax Compliance Focus Areas for 2024 As we head into 2024 tax time , the Australian Taxation Office (ATO) has outlined several critical areas for tax compliance. Businesses and individuals must pay attention to these focus areas to ensure accurate and timely tax filings: Work-Related Expenses: The ATO is closely examining claims for work-related expenses, especially those related to working from home. Accurate record-keeping is essential to substantiate these claims. Rental Property Deductions: Many property owners make errors in reporting rental income and expenses. The ATO is focusing on ensuring that deductions for repairs and maintenance are accurate. Undeclared Income: Reporting all sources of income, including from the sharing economy, is crucial. The ATO is vigilant about identifying undeclared income to prevent tax evasion. Superannuation Guarantee: Ensuring employers meet their superannuation obligations is a priority. This includes timely and accurate reporting to ensure employees receive their correct entitlements. Fraud and Evasion Prevention: The ATO is enhancing efforts to detect and prevent tax fraud and evasion using advanced data analytics and technology. Debt Collection: There is a strong emphasis on recovering high-value and aged debts. The ATO is implementing targeted strategies to encourage timely payment and prevent new debts from accumulating. Staying informed and compliant with these focus areas will help businesses and individuals avoid potential issues with their tax filings. #TaxTime2024 #ATOCompliance #WorkFromHome #RentalProperty #Superannuation #TaxEvasion #DebtCollection #Accounting #SmallBusiness #taxtips
Kepler Business Solutions
Accounting
Melbourne, Victoria 2 followers
Your one-stop solution for accounting and bookkeeping. From bank reconciliations to financial reporting
About us
🌟 Welcome to Kepler Business Solutions - Your Trusted Accounting and Bookkeeping Partner! 🌟 Greetings! We are dedicated to providing top-notch accounting and bookkeeping services tailored for your business needs. Our mission is to streamline your financial processes, ensuring accuracy and compliance, so you can focus on growing your business. Our Expert Services Include: 🔄 Bank Reconciliations: Ensuring your records match the bank's. 💼 Accounts Receivables & Payables, Invoicing: Efficient management of your cash inflow and outflow. 📊 Payroll & STP Finalization: Hassle-free payroll management adhering to all regulations. 📑 BAS Lodgement: Timely and accurate BAS submissions. 💹 Cash Flow Statements: Detailed insights into your financial health. 📈 Profit & Loss Statements: Comprehensive overview of your business performance. ⚖️ Balance Sheets: A clear snapshot of your financial standing. 📚 Financial Statements: Detailed reports for better decision-making. 🌐 Superannuation Quarterly Lodgments: Ensuring compliance with superannuation obligations. 📉 Chart of Accounts Management: Efficient organization of your financial records. 🖥️ Set Up and Administration of an Accounting System: Streamlining your financial processes with the right tools. At Kepler Business Solutions, we are committed to delivering excellence with a personal touch. We understand the unique challenges and opportunities of managing business finances, and we are here to assist every step of the way.
- Website
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https://keplerbusiness.com.au/
External link for Kepler Business Solutions
- Industry
- Accounting
- Company size
- 2-10 employees
- Headquarters
- Melbourne, Victoria
- Type
- Privately Held
Locations
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Primary
Get directions
206/125 Swanston St
Melbourne, Victoria 3000, AU