Recently, the ATO have updated their information on the behaviours, characteristics and tax issues of privately owned and wealthy groups that attract ATO attention.
The following behaviours and characteristics may attract attention:
Key risks relating to business structures such as consolidations, international transactions, ineligible businesses accessing lower company tax rates and self-managed superfunds.
New issues for transactions relating to Capital Gains Tax (CGT) small business concessions, excise and excise equivalent goods, fringe benefits tax, carry forward of revenue losses and private use of business assets.
Information on how the ATO target illegal phoenix activity, refund fraud, identity crime and organised crime and the cross-agency taskforces they are involved in.
Information on taxpayers who avoid or delay payment of tax by non-lodgment of their tax returns where they have reportable fringe benefit amounts included in payment summaries and STP reporting.
The following behaviours and characteristics may also attract attention:
tax or economic performance not comparable to similar businesses
low transparency of your tax affairs
large, one-off, or unusual transactions, including the transfer or shifting of wealth
aggressive tax planning
tax outcomes inconsistent with the intent of the tax law
choosing not to comply, or regularly taking controversial interpretations of the law
lifestyle not supported by after-tax income
accessing business assets for tax-free private use
All employees (except for casual employees) get paid annual leave.
How much annual leave does an employee get?
Full-time and part-time employees get 4 weeks of annual leave, based on their ordinary hours of work. (4 weeks of annual leave is 20 working days a year based on 8 hrs working days or 160 hrs a year)
Christmas ပိတ်ရက်က များသောအား ဖြင့် Last working Day 23rd Dec and returning 4th Jan 2021. Public holidays = 3 ရက်အပြင် Annual Leave = 4 ရက်လောက် အဲအချိန်ဆို ယူရလေ့ ရှိပါတယ်။
