Monthly update, March 2021

Update your ABN or miss out!

Government agencies sometimes use ABN registration to contact businesses for emergency help or even grants of support, so it’s important to keep your business’s ABN details current. And the perennial problem of dealing with cash flow gets some advisory help from the ATO.

A new Director Identification Number regime is something companies may need to get familiar with very soon, and we re-visit the changes that COVID-19 has made to FBT. There’s also details about the unstoppable SMSF sector, and the tax treatment of unexpected lump sums.

This issue reflects the law when it was published. Tax and super rules change often, so please call us before acting on anything in it.