Company Money Crackdown

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Company Money Crackdown.


It’s common for business owners to utilise company resources for their personal use. The business is often such a part of their life that the line distinguishing ‘the business’ from their life can be blurred.


While there are tax laws preventing individuals accessing profits or assets of the company in a tax-free manner, mistakes are being made and the Australian Taxation Office (ATO) has had enough.

The ATO has launched a new
education campaign to raise awareness of these common problems and the serious tax consequences that can arise.


Questions?


It’s important to know your chances of success before applying which is where a finance adviser can really help.


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