Thomas Davis Co May Client Alert 2021 MSI *|MC:SUBJECT|*

With the financial year in its last quarter, it's time to start thinking about your finances and some of the optimisations you can do, both personally, and for your business. Given the amount of COVID-19 related supports and benefits we have seen, a professional can direct your decisions in this space. We hope you are all doing well - please reach out to us if you have any questions, or if there is anything we can do to help.

As a client of Thomas Davis & Co, you are able to receive updates from the MSI Australia, New Zealand and Fiji Alliance. Thomas Davis & Co is a part of this network of trusted professional services firms, expanding our capabilities across the whole globe. As a result, you receive the benefit of accessing this alliance.

Check out the latest content below from members of the MSI alliance, and some recaps of how we work together to help clients.

Thomas Davis & Co Update

New this month:
  • Independent Resolution Process now permanent 
  • ATO focus in relation to JobKeeper
  • ATO targets contractors who under-report income
  • Can your business claim a tax deduction for bad debts?
  • ATO data-matching: residency for tax purposes
  • NSW announces tougher penalties for payroll tax avoidance
  • ASIC extends deadlines for financial reports and AGMs
Read the full summary here

COVID-19: Fringe Benefit Tax and COVID-19 

By Morrows. The Fringe Benefit Tax (FBT) year end of 25 June 2021 (if lodged by tax agents) is upon us again. To help guide this years preparation, we've highlighted some key changes and strategies (taking into consideration of the impact of the COVID-19 pandemic).
Check out the blog here!

Non-Fungible Tokens (NFT's): Another Blockchain Bubble? 

By mckinley plowman. The rapid change in technology is often hard to keep up with in our own industries, let alone the edges of technological capability. Here's a 3-minute read on NFT's, an emerging technology that looks like its here to stay.

Check out the blog here!

COVID-19: NSW Extends Tenant Protection 

By Makinson d'Apice. Through the COVID-19 Recovery Act 2021, the NSW Government have extended the existing tenant protection protocols. If you have a commercial lease, make sure you contact your local MSI Global Alliance member to understand your situation.

Check out the blog here!
Some other recent blogs include:

Some Money isn't Counted as 'Income' by the ATO 
Should A Small Business Accountant Do Your Bookkeeping? 
Oreon Client Success Story: Littlehampton Bricks and Pavers