Last financial year, over 8.8 million taxpayers claimed $21.98 billion in deductions for work related expenses. It’s an area under intense review by the ATO. [...]
In the 2017-18 financial year, more than 2.2 million Australians claimed over $47 billion in deductions and the ATO believes that is too much - [...]
The taxable payments reporting system requires businesses in certain industries to record and report payments made to contractors to the ATO. From 1 July 2019, [...]
The Tax Office is actively targeting geographic areas for special visits as part of a nationwide crackdown on the black economy. This financial year, the ATO has visited 22 regions with another four in progress. Next financial year they plan on visiting over 10,000 businesses.
This year is the first year of new measures that enable people who have been out of the work force, like new mums, to top [...]
There are around 3.8 million small businesses, including 1.6 million sole traders in Australia. They employ around 5.5 million people and contribute $380bn to the [...]
Single touch payroll (STP) reporting has changed the way businesses report salary and wages, PAYG withholding and superannuation contribution information to the ATO. For the [...]
From 1 July 2019, if taxpayers do not meet their PAYG withholding and reporting obligations, they will not be able to claim a tax deduction for payments.
Want to know the best tax tips to look out for in 2019? The experts at Macquarie Business Accountants have put together the top 10 [...]
The Class SMSF Benchmark Report for March 2019 is now available. This quarter’s special feature casts a spotlight on the characteristics and trends of newly [...]