The number of SMEs struggling due to late payments is still being felt, according to new research.

The ATO and the SMSF Association have clarified some of the areas of confusion with respect to the director identification number process and outlined some of the ATO’s longer-term plans.

Imagine this scenario: George, who lives in Melbourne and is aged 23, gets a call from his grandmother in Athens. Grandma says she is going to give him $100,000 for Christmas. George is ecstatic. With profuse thankfulness, George gives Grandma the bank details.

The following links are to the latest state and federal government plans, schemes, programs, and initiatives to help businesses and individuals manage the impact of yet more COVID-19 restrictions.

The growth trajectory of more Millennial SMSFs is set to continue in the years to come, according to the chief executive of Smarter SMSF.

As we fly into our second pandemic-impacted festive season, many employers are now, more than ever, looking to bring a little bit of cheer to their employees.

And the winners are.. Cuisine on Bowen Gift Vouchers $50 Gift Voucher WINNER — Sue King (Client since 2005) $50 Gift Voucher WINNER — Kevin Oorschot (Business Client since 2010) www.cuisineonbowen.com.au

With the recent pandemic, there have been more conversations and questions over the role of the employer in supporting the wellbeing of their employees.

The following are some of the links to information on a number of State and Federal initiatives that might help your business through these tough times.

The ATO says it will be focusing on accessing new third-party data, automating audit processes, increasing its access to high-quality data and preventative strategies in order to drive down the overall tax gap.