Do you want to stay on the ATO’s good side and keep your business shining bright? They’ve just released their latest focus areas for small businesses, highlighting the risks and behaviours that are catching their attention.
Think of it as the ATO’s “spotlight” – they’re making it clear what they’re looking at to ensure everyone’s playing by the rules and contributing to a fair and thriving Aussie economy.
So, what’s under the spotlight this time? The ATO is focusing on making sure you know that business income is not personal income, so keep those lines clear! They are also looking at deductions and concessions, so make sure you’re claiming correctly and legitimately.
The ATO will be updating these focus areas every quarter, so stay tuned! By being transparent about what they’re looking for, they’re giving you the chance to get it right from the start. Need help navigating these focus areas or want to make sure your business is squeaky clean? We’re here to support you every step of the way.
Should you have any questions about bookkeeping or ways we can support your business, our team is here to assist you, give us a call on 1800 668 225 or reply to this email by clicking here to ask us any questions.
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