Government grants for SMEs

There are a wide variety of grants available to SMEs from the Australian Federal and state governments, providing small businesses with funding of often up to $1,500,000, but business owners claim they are too hard to apply for and cannot see the benefit.

New tax rates for 2010/11

Following the announcement made in the 2009 Federal Budget, new tax thresholds have now been introduced throughout Australia as of 1 July 2010. This means that new rates now apply to income tax payments made on behalf of employees.

ATO compliance crack-down

The Australian Taxation Office has announced that in the 2010/11 financial year, it will be focusing its attention on taxation compliance issues for SMEs.

Superannuation obligations

The ATO has also publicized their intention to investigate over 17,500 employee complaints about unpaid superannuation over the course of this financial year.