Simplified GST accounting methods for food retailers

Many small food retailers buy and sell products that are taxable as well as products that are GST-free. Others buy taxable and GST-free products and sell only taxable products. Depending on the point-of-sale equipment they use, accurately identifying and recording GST-free sales separately from those that are taxable can be difficult, which makes accounting for GST complicated.


The ATO have introduced the simplified accounting method for GST purposes (SAM) to make it easier to account for GST. These methods will help you work out the amount of GST you are liable to pay to us at the end of each tax period. Read more

Simplifying transfer pricing record-keeping

The ATO has developed some simplified transfer pricing record keeping options so that certain eligible businesses can opt to minimise some of their record-keeping and compliance costs for three consecutive income years, the first of which starts on or after 29 June 2013.

The guidelines are published in the Simplifying Transfer Pricing Record Keeping (on-line guide) and if you click on the link below, you will find questions and answers that should be read in conjunction with it the online guide.

Click here for more information.    Simplifying Transfer Pricing Records FAQ

Government Super Co-Contributions

You may be eligible for either the super co-contribution or the low-income super contribution (LISC) or both, which means the government also adds to your super.

You don’t need to apply for either the co-contribution or LISC payment. If you’re eligible, have lodged your tax return and your fund has your tax file number (TFN), the ATO will pay it to your fund account automatically.

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Mature age worker tax offset phase out

As part of the 2012 Federal Budget, the government announced that from 1 July 2012, eligibility for the mature age worker tax offset will be confined to taxpayers born before 1 July 1957.

This means taxpayers must have turned 55 prior to 1 July 2012 to receive this offset. The offset remains unchanged in all other respects.

Fuel tax credit rates are changing from 1 July 2012

You may be affected by Fuel tax credits – changes from 1 July 2012.

These changes relate to:

  • liquid fuels used in some off-road business activities
  • the introduction of a carbon charge that reduces the rate in some activities
  • a decrease for heavy vehicles travelling on a public road gaseous fuels
  • some blended liquid fuels.

With many rates now changing each year, it is important that you keep records of the date, type and quantity of fuel acquired and the activities each fuel was used for.

Your super


Super is big business. With $1.3 trillion sitting in Australian super funds and over $18 billion in lost super, it’s important to make sure super is working. The Australian Government is making a series of improvements to super over the next seven years to help protect and grow the savings of all Australians. The first changes apply from 1 July 2012. Read more

Household Assistance Package – tax changes: information for individuals

The Australian Government has implemented the Household Assistance Package to help low and middle income families under its Clean Energy Future initiative.

Do the changes affect how you complete your 2011-12 tax return?

The changes will not affect your 2011-12 tax return. They are effective from 1 July 2012 so they will impact how you complete your 2012-13 tax return.

What changes came into effect on 1 July 2012? Read more

WARNING: Fraudulant Email

WARNING: A phishing email claiming to be from the ATO is currently circulating. The ATO will never send you an email requesting you to confirm, update or disclose confidential details via an insecure channel such as email.

Dear ______,
After the last annual calculations of your fiscal activity we have discovered that
you are eligible to receive a tax refund of $210.75 AUD. Kindly complete the tax refund
request and allow 6-9 working days to process it.

A refund can be delayed for a variety of reasons. For example submitting invalid
records or applying after the deadline. To access the form for your tax refund,
please visit:

Note: For security reasons, we will record your ip-address, the date and time.
Deliberate wrong inputs are criminally pursued and persecuted.

Thank You.
Australian Taxation Office (ATO)

For more information from the ATO regarding scammers please click on the following link

Update on DPN Laws

Since the amended Directors Penalty Notice (DPN) law came into effect in June last year we have observed a consistent but not excessive flow of Director Penalty Notices initiated by the ATO. This new DPN regime has been well socialised by the ATO and we believe that the potential personal liability exposure of company directors should not be overlooked. Read more

Increase in Superannuation Guarantee

In the coming months there will be a lot of information about super reforms and advice on how this will change your obligations as an employer.
The first round of changes includes:
If you are a small business employer with 19 or fewer employees you can register for the Small Business Superannuation Clearing House, a free and easy-to-use service that will let you pay your super contributions in one secure transaction to a single location. The service will then distribute the super contributions for you to your employees’ super funds. It is designed to make this process easier to help you meet your super obligations. Visit For more information on super reforms, go to