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2016/17 Individual Tax Return Checklist Depreciable plant, etc, costing $300 or less Clothing expenses Self education expenses Other work-related expenses 2016/17 Year-end Checklist for Business Maximising deductions for non-SBE taxpayers Prepayment strategies – non-SBE Accelerating expenditure – non-SBE Accrued expenditure – non-SBE Maximising deductions for SBE taxpayers Accelerating expenditure – SBE Prepayment strategies – SBE Click here…

July – 2017 Practice Update covers following points Removal of the Temporary Budget Repair Levy from the 2017/18 income year Extension of the $20,000 SBE Immediate Deduction Threshold Simpler BAS is coming soon Changes to the foreign resident withholding regime for sales of Australian real estate Change to deductions for personal super contributions Click here…

The ATO has been on top of the situation to avoid letting Uber drivers slip away without paying their taxes. This goes for not only drivers of Uber, but also any ride sharing arrangement or companies like Go catch, Lyft, etc.  We have compiled a list of points that each ride-sharing driver should be weary…

June – 2017 Practice Update covers following points Budget Update More taxpayers can access the benefits of being an ‘SBE’ Who is assessed on interest on bank accounts? Children’s bank accounts Using social media? Be aware of tax scams! FBT: Car parking threshold Click here for: June – 2017 Practice Update

May – 2017 Practice Update covers following points Company tax cuts pass the Senate with amendments Increase to the SBE turnover threshold Reduction in the corporate tax rate Changes to the franking of dividends Costs of travelling in relation to the preparation of tax returns FBT: Benchmark interest rate FBT: Cents per kilometre basis Click…

April – 2017 Practice Update covers following points Reduction in FBT rate from 1 April 2017 Lump sum payments received by healthcare practitioners Tax officers “hit the streets” to “help small businesses” Planned changes to GST on low value imported goods Company disallowed $25 million of carried forward tax losses Super changes may require action…

If this article heading stopped you dead in your track then you’re probably not aware of this possibility. In the light of an article recently published in the Sydney Morning Herald, we would like to inform you about the possibility of the ATO snooping around on your social media accounts to determine if what you’ve…

Each and every business, and career oriented individual is liable to pay tax. It might seem like you're losing your hard earned money, but taxation is a primary source for the country to keep developing new infrastructure, healthcare and much more. There are very few ways to minimise the amount of tax paid. However, people...

March – 2017 Practice Update covers following points ATO data regarding Super Guarantee non-compliance Ride-sourcing is ‘taxi travel’ Making ‘intangible’ capital improvements to pre-CGT assets Fringe benefits change for tax offsets from 1 July 2017 Diverting personal services income to SMSFs No overtime meal allowance, no overtime meal deduction Click here for: March – 2017 Practice…