The Australian Tax Office (ATO) is utilising data provided by the Australian Investments and Security Commission (ASIC) to data match share trades.... read more
For a while now, the Australian Taxation Office (ATO) has been concerned about tax deductions individuals have been claiming for a whole host of expenses. The latest on their ‘hit list’ are home office expenses. We guide you through what you can and can’t claim if you work from home.... read more
Owners of cafes and restaurants, and any businesses that sell or prepare food, need to be aware of when to charge GST. Unfortunately, it is not often a simple yes or no. Navigating the world of food and GST can be like weaving through a maze. A delicious maze, albeit.... read more
With a negatively geared property, you’re going to have generated a loss, and that loss is then used to reduce your taxable income and increase your tax refund at the end of the year.... read more
If you are a business that provides cleaning or courier services, you will now need to lodge a Taxable Payments Annual Report (TPAR) to inform the ATO about your payments to contractors.... read more
Dates to remember in December..
December 21 – November Monthly Instalment Activity Statement (IAS) due... read more
The ATO are about to help us Tax Practitioners out big time.
Small business is still a vote winner with the Government and Opposition teaming up to accelerate tax cuts for the sector by 5 years impacting on an estimated 3.3 million businesses.... read more