From the ‘Small Business Newsroom”… If you have an aggregated turnover of less than $10 million, or use cash accounting for income tax, you can use one of two methods for accounting your GST. 1. Cash accounting GST is reported on the activity statement for the period in which you either: receive payment for your…
Extracted from article in the ATO Newsroom 20 Aug 2019 At the end of August 2019 the ATO will send letters to approximately 17,700 self-managed super fund (SMSF) trustees and their auditors where the ATO believe the SMSF investment strategies may not meet the diversification requirements under regulation 4.09 of the Superannuation Industry (Supervision) Act…