31 May

2019 income year Lodgement Deferrals and Penalties

The ATO recognised COVID-19 may have a significant impact on businesses meet their lodgment and payment obligations. The Commissioner announced a range of support measures available during these difficult times to assist businesses meeting their tax compliance obligations. Lodgment deferrals Lodgment and payment deferrals will be automatically applied to: Company
03 Apr

COVID-19: A Summary important helps and supports from the ATO and the Government

The coronavirus outbreak is first and foremost a human tragedy, affecting life of all Australian people and businesses.  Cloud8 Accounting & Taxation has put together a summary of important helps and supports announced by the ATO and the Government for small businesses. NOTE: Cloud8 is always here to help our clients
11 Mar

Get your Trust Distribution Resolutions Right!

One of the superstar accountants at Cloud 8 recently consulted with a business owner who has come to us for second opinion. The business operates under a Family Trust (also refers to Discretionary Trust) structure and has been audited by the ATO for the 2016/2017 income tax. Upon the request
04 Mar

Super guarantee amnesty is now Law! Employers should take actions!

Treasury Laws Amendment (Recovering Unpaid Superannuation) Bill 2019 has been passed by the Government on 24 February  2020 and will become law after receiving Royal Assent. The Bill introduces superannuation guarantee (SG) amnesty which will provide relevant employers with a one-off temporary amnesty from late payment penalties to correct their
17 Feb

Cloud8 at Xero Roadshow 2020 in Melbourne

Cloud8 team attended the biggest ever XERO Roadshow in Melbourne last week. At the roadshow, we were updated about Xero’s upcoming announcements and cloud accounting product feature. We also had the opportunities to meet a number of leading App developers in the XERO Eco-system. At Cloud8, we are technology savvy! Not
06 Feb

Are you an Australian resident for tax purpose?

As tax agents in Melbourne Australia, we received a lot of questions from clients about their tax residency and associated income tax implications. Whether you are an Australian resident for tax purpose will have significantly implication on the amount of income tax you need to pay in Australia. As a
30 Aug

ATO Audits are on the rise! Audit-proofing your bookkeeping process.

business bookkeeping and accounting processes
The Government committed a fresh $1 billion funding boost to the ATO to extend their operation of the Tax Avoidance Taskforce. We expect we will start to see a large increase in audit activities in the coming years. Especially with the Single Touch Payroll data starting to flow through, we

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