Taxwise Business April 2022

Flood Support Disaster recovery payments If your business was affected by the recent floods in NSW and Queensland, you may receive a recovery payment from a local, state or federal government agency. The ATO website advises that the income tax treatment of these support payments is as follows: Australian Government Disaster Recovery Payment (one off…

Taxwise Individual News

Flood Support Disaster recovery payments If you or your business was affected by the recent floods in NSW and Queensland, you may receive a recovery payment from a local, state or federal government agency. The ATO website advises that the income tax treatment of these support payments is as follows: Australian Government Disaster Recovery Payment…

Director identification number: A unique way to i-DIN-tify yourself…Do you have yours?   Recent legislation has introduced new obligations for company directors requiring them to obtain a personal director identification number (‘Director ID’). So, if you are a director of a company you have new obligations to meet to ensure your ongoing director compliance. This…