ATO to Begin Data Matching Program on Lifestyle Assets
What to expect The Australian Taxation Office will be obtaining information on insurance policies for certain classes of assets, including marine vessels, enthusiast motor vehicles, [...]
GST obligations to be included under the director penalty regime
The strengthening of the director penalty regime has seen director penalty notices (DPNs) extended to superannuation guarantee obligations from 1 March 2019. Now it looks [...]
Confusion over personal tax changes – what are you really entitled to?
So, what changed? From 1 July 2018 A low and middle income tax offset (LMITO), first introduced in the 2018-19 Federal Budget, provides a tax [...]
ATO on the Road
The Australian Taxation Office (ATO) are on the road and visiting close to 500 businesses in and around Port Macquarie and Wauchope in late July and [...]
Weirdest tax deductions revealed
Would you claim the Lego you bought for your kids throughout the year as a tax deduction? One taxpayer did and it made the Australian [...]
Single touch payroll exemption for directors and family members
The ATO has provided a concession from single touch payroll for payments by small employers to closely held payees. Single touch payroll (STP) was extended [...]
60,000 tax cheat tip-offs
Tip-offs to the Australian Taxation Office (ATO) have reached an all-time high with close to 60,000 tip-offs received between June and May 2019 – almost [...]
Work related deductions – are you in the ATO’s sights?
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. [...]
How to prepare for a tax office visit
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.