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. Last fin...
Read MoreWorking from home: What deductions can you claim?
Friday, October 05, 2018
ATO takes its share of car sharing
Wednesday, September 05, 2018
The extra income earned by people taking part in car sharing services such as Car Next Door or DriveMyCar has come to the attention of the ATO. The car sharing services work by making private cars
publicly available in a similar way to other car hire services – it’s like AirBNB for cars. C...
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The extra income earned by people taking part in car sharing services such as Car Next Door or DriveMyCar has come to the attention of the ATO. The car sharing services work by making private cars publicly available in a similar way to other car hire services – it’s like AirBNB for cars. C...
Read MoreTax ‘safe harbour’ for inherited property
Wednesday, September 05, 2018
When someone inherits a dwelling there are some special rules contained within the main residence exemption provisions that can provide a full exemption
if certain conditions are met. If the conditions are not met, the beneficiary might face a nasty capital gains tax (CGT) bill for their good...
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When someone inherits a dwelling there are some special rules contained within the main residence exemption provisions that can provide a full exemption if certain conditions are met. If the conditions are not met, the beneficiary might face a nasty capital gains tax (CGT) bill for their good...
Read MoreNew domestic violence leave entitlements come into force
Wednesday, September 05, 2018
A Fair Work Commission decision created a new entitlement for most Australian employees; unpaid family and domestic violence leave.
The Fair Work decision provides five days’ unpaid leave per annum to all employees (including casuals) experiencing family and domestic violence. The leave
will...
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A Fair Work Commission decision created a new entitlement for most Australian employees; unpaid family and domestic violence leave. The Fair Work decision provides five days’ unpaid leave per annum to all employees (including casuals) experiencing family and domestic violence. The leave will...
Read MoreGot a HELP debt? The impending changes to speed up your repayments
Wednesday, September 05, 2018
The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with
outstanding debt.
New lifetime caps on Higher Education Loan Program (HELP) debt will prevent people from constantly going to University wi...
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The Government has moved to put an end to ‘eternal students’ who constantly study and never earn an income and speed up the payment cycle for those with outstanding debt. New lifetime caps on Higher Education Loan Program (HELP) debt will prevent people from constantly going to University wi...
Read MoreLast minute changes to company tax and franking rate passed by Parliament
Wednesday, September 05, 2018
Legislation passed by Parliament late last month introduces a new test that will restrict some companies from accessing the lower company tax rate from the 2017-18 financial year.
Across a 3 year period, the company tax and franking rate changed, then the definition of what is a small busines...
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Legislation passed by Parliament late last month introduces a new test that will restrict some companies from accessing the lower company tax rate from the 2017-18 financial year. Across a 3 year period, the company tax and franking rate changed, then the definition of what is a small busines...
Read More190,000 taxpayers ‘examined’ in ATO online rental blitz
Wednesday, September 05, 2018
The Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz.
Utilising information from online platform sharing sites matched to information f...
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The Australian Taxation Office (ATO) has announced a new data-matching program targeting taxpayers earning income from the exploding popularity of short-term rentals available on platforms like AirBNB and Stayz. Utilising information from online platform sharing sites matched to information f...
Read MoreAre you holding back your business?
Friday, August 03, 2018
Overcoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities
and reduce your risks.
“I didn’t get time…” No more excuses
Most people simply don’t set aside the time to do ...
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Overcoming the biggest problems in business often comes down to the simple things. Here are a few simple things you can do to capitalise on your opportunities and reduce your risks. “I didn’t get time…” No more excuses Most people simply don’t set aside the time to do ...
Read MoreClothing deductions hung out to dry
Friday, August 03, 2018
The Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns.
The ATO says that clothing claims are up nearly 20% over the last five years with people either making mistakes or deliberately over-cla...
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The Australian Taxation Office is closely examining work-related clothing and laundry expense claims of taxpayers submitting their 2017-18 tax returns. The ATO says that clothing claims are up nearly 20% over the last five years with people either making mistakes or deliberately over-cla...
Read MoreWill Australians pay more for a good cause?
Friday, August 03, 2018
In the same month that desperate farmers made headlines preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith’s nationalistic brand announced its closure. The question is, will Australians pay more for a cause?
Comments...
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In the same month that desperate farmers made headlines preparing to destroy starving flocks and pleading with the public to pay a few cents more for their dairy products, Dick Smith’s nationalistic brand announced its closure. The question is, will Australians pay more for a cause? Comments...
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