by Craig | Apr 1, 2025 | ABN, ART, ATO, Practice Update, Superannuation
ATO’s new focus for small business The ATO is currently focusing on the following ‘specific risk areas’, where it is concerned “small businesses are getting it wrong”: Contractors omitting income — with a focus on data matching to ensure...
by Craig | Feb 3, 2025 | Data-matching, Data-matching Program, Practice Update, SMSF, Superannuation, Tax Deductions, Tax Myths
CGT withholding measures now law The Government recently passed legislation making changes to the foreign resident capital gains withholding laws (among other changes). Foreign resident capital gains withholding is relevant for all vendors selling certain taxable real...
by Craig | Dec 3, 2024 | ATO, FBT Obligations, Small Business, Superannuation Guarantee
Can staff celebrations attract FBT? With the holiday season coming up, employers may be planning to celebrate with their employees. Before they hire a restaurant or book an event, employers should make sure to work out if the benefits they provide their employees are...
by Craig | Aug 2, 2024 | AAT, ATO, Data-matching, Data-matching Program, Online Selling, Small Business, SMSF
ATO’s tips for correctly claiming deductions for rental properties Taxpayers who have work done on their rental property should consider the following factors in determining claims for expenses. Repairs and general maintenance are expenses for work done to...
by Craig | Jul 2, 2024 | ATO, Medicare Levy, Superannuation, Tax, Tax Time
ATO’s ‘main residence exemption tips’ The main residence exemption needs to be considered in a variety of situations when a taxpayer sells a property they have lived in. The ATO hopes that the following tips will help in this regard: Taxpayers...
by Craig | Apr 1, 2024 | Deductions, SMSF, Superannuation, TBAR, Work From Home
How to claim working from home expenses Taxpayers who have been working from home this financial year, and who consequently incurred work-related expenses, have two ways to calculate their work from home deduction: the actual cost method; orthe fixed rate method....
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