Timing mismatches between Status Certificate Income and related expenses can lead to unnecessary tax liabilities for strata companies, but a simple adjustment in charging practices can help avoid this issue.
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GST Credits: How Small Commercial Properties Can Benefit
Voluntarily registering a strata for GST does not add 10% to levies. In fact, for commercial lot owners, it actually works out to be cashflow positive.
Strata News: The ATO Has Flipped It's Stance on Penalties
This article outlines how the ATO has significantly hardened its stance on penalties and interest, making it much more challenging to obtain remissions.
StrataMax: Workaround for Old Year Creditors Issue
Find out about recent StrataMax changes to creditor account posting and Ascend's temporary workaround to the issue they've created.
Red Flags of Financial Handovers
What to look out for in the handover financials when taking on a new strata management.
Payday Super Is Coming
What Strata Managers need to know.
ATO Client-to-Agent Linking
Important Advice for Strata Managers Regarding New ATO Compliance Requirement A significant change is about to be introduced by the Australian Taxation Office (ATO). The change is called ‘Client-to-agent linking’ and its purpose is to strengthen the security of
ATO Interest
The ATO has been in a generous mood for early payers in recent times
Tax Time
With the new financial year upon us, we thought you might like a quick 'ready reckoner' of tax obligations for your strata clients:
Government Support for those affected by COVID-19
The Australian Government has announced stimulus packages aimed at helping Australians navigate financial hardships as a result of COVID-19.
Ascend's COVID-19 Response
We would like to wish all of our clients well during this difficult time for small business. As always, we are here to help you in any way we can.
Single Touch Payroll
Single Touch Payroll (STP) has been passed by parliament. This means that all employers, including many strata companies, will need to report payroll information electronically to the ATO every time they pay employees.