ATO corrects its error - impact on PAYG instalments
Perrier Ryan • November 29, 2020
We have been receiving enquiries from clients confused about refunds and correspondence being issued from the ATO. Unfortunately, the ATO is not only not explaining the reason behind the refund or the revised notional tax notices, but correspondence also refers to it as a "client initiated amendment" to the BAS - when actually it is the ATO making the amendments. Essentially, there is a correction to the company tax rate.
For more information about the situation, see the ATO newsroom.
Market implications for Middle East Risks
The rush toward end of financial year is on us - here are a couple of important things to consider at this time: Maximise your Super One key opportunity in your superannuation strategy is to make the most of your Concessional Contributions - but get them in before 23 June 2025 to ensure they're processed in time. Another valuable opportunity is the carry-forward contributions - remembering that unused cap amounts from the 2019-2020 FY will expire after 30 June 2025 - so this is your last chance to use them. Take Advantage of the $20,000 instant asset write-off before 30 June 2025 If you're a small business owner, now is the time to consider investing in new equipment or assets. The $20,000 instant asset write-off has been extended for the 2024–25 financial year — but it expires on 30 June 2025 and there is currently no confirmed extension beyond this date. This applies to assets that are first used or installed ready for use between 1 July 2024 and 30 June 2025. For more, see our attached information , or, call the office - 3391 7566
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Effective 7 March 2025, Perrier Ryan General Insurance portfolio was sold to Benjamin & Benjamin Insurance Group
